Iron Ore Prices Retrace 12% from Two Year Highs, Dragging Aussie Dollar Down

Iron ore prices have fallen over 12% from a two year high earlier this month over $US145 a tonne to $US127.5 on Tuesday. Prices had risen on expectations of healthy iron ore demand for winter restocking amongst growing optimism that Beijing’s latest round of stimulus to revive China’s troubled property market. China has continued to struggle; shipping has been impacted by the Red Sea attacks as a result commodity prices including iron ore have sold off. Commodity price sensitivity is … Continue reading “Iron Ore Prices Retrace 12% from Two Year Highs, Dragging Aussie Dollar Down”

Iron Ore at Eighteen Month Highs as China Walks a Tightrope Trying to Save Property Market

Iron ore prices climbed to eighteen-month highs on expectations of healthy iron ore demand for winter restocking amongst growing optimism that Beijing’s latest round of stimulus will revive China’s troubled property market. December futures prices for iron ore cargoes with a 63.5% iron ore content for delivery in Tianjin rose to $139 per tonne the highest since June 2022. The benchmark January iron ore on the Singapore Exchange rose 1.4% to $US137.55 a tonne, up 2.7% for the week. The … Continue reading “Iron Ore at Eighteen Month Highs as China Walks a Tightrope Trying to Save Property Market”

Monetary Authority of Singapore Tightened Monetary Policy to Slow Inflation’s Momentum 

The Monetary Authority of Singapore (MAS), Singapore’s central bank tightened its monetary policy on Thursday. The MAS manages monetary policy through exchange rate settings, rather than interest rates. The authority re-centered the mid-point of the Nominal Effective Exchange Rate, or S$NEER, at the prevailing level of the S$NEER. It also increased slightly the rate of appreciation of the policy band. The MAS adjusts its policy via three levers: the slope, mid-point and width of the policy band. The Monetary Authority of … Continue reading “Monetary Authority of Singapore Tightened Monetary Policy to Slow Inflation’s Momentum “

Monetary Authority of Singapore Encouraging Crypto Firms To Operate In The Country

The Central Bank of Singapore, the Monetary Authority of Singapore is in process of setting regulations in place encouraging cryptocurrency firms to operate in the island state. The move is to avoid “Singapore being left behind.”