The ferrous jaws are closing, though we still need a price nearer to $90 for iron ore for steel enterprises to make sense. With a mild cyclone season so far, price pressure is likely to continue into CNY, which runs from February 16 to February 22. Typically, there is some kind of bounce afterwards before
The post Green steel abandons Australia appeared first on MacroBusiness.
The Reserve Bank of New Zealand has slashed the official cash rate (OCR) by half (2.25%) since mid-2024: These rate cuts by the Reserve Bank have reduced mortgage borrowing costs dramatically, as illustrated below by Justin Fabo from Antipodean Macro: Normally, such a sharp reduction in interest rates would stimulate activity, leading to a rebound
A detailed breakdown of political donations shows fossil fuel contributions to major parties are dwarfed by the scale of coal industry funding of astroturfing campaigns.
The World Economic Forum claims to represent global cooperation, but its structure, silences and hierarchies tell a different story about who sets the agenda – and who is expected to listen.
Davos and the myth of a global conversation
One of the worst fads of the energy transition has been the push from various state authorities to get households off gas and onto electricity. Tony Wood at the corrupt Grattan Institute began it. Various gullible and noxious pollies, especially in VIC, embraced it as a great distraction from Wood’s former employer and Grattan sponsor,
Victorians have experienced acute Stockholm Syndrome with respect to the state Labor government. Victoria’s nine-month lockdown during the Covid-19 outbreak was among the longest and most severe in the world. The state government’s incompetence in handling hotel quarantine and enforcement contributed to this situation. Victoria’s infrastructure projects have experienced massive cost overruns, and the government
DXY isn’t going away as Trump cancelled a Friday meeting with Tehran. Australian dollar fell but remains strong. CNY is supportive. JPY is about to become a problem again. Gold trying. Iranian oil lift. AI metals are in free fall. Miners don’t care. Jim Cramer is now recommending RIO. Look out below. EM toppy. Junk
The post Australian dollar takes a holiday to Europe appeared first on MacroBusiness.
Australia’s migration law allows entry to be refused on character grounds including genocide, war crimes and incitement. How that discretion is exercised speaks directly to Australia’s commitment to international law.
Allegations, immunity, and a test of character
Another uneasy night on risk markets with concerns mounting over the Iranian situation as talks collapse while Wall Street took another tumble on tech stock volatility. The USD came back against some of the majors, particularly Yen while a fall in commodities like copper and gold saw the Australian dollar lose ground to revert below
The post Macro Morning appeared first on MacroBusiness.
Following the Reserve Bank of Australia’s (RBA) decision to lift the official cash rate (OCR) by 25 bps on Tuesday, Treasurer Jim Chalmers was quick to place the blame on the private sector, rather than his own government’s policies. “The Board’s statement today does not mention government spending. It makes it very clear the pressure
UK investor snaps up two major battery projects, one a solar hybrid, adding to a growing portfolio to replace coal and create a grid with no smokestacks.
The post A grid with no smokestacks: Octopus snaps up biggest battery project and solar hybrid in push to replace coal appeared first on Renew Economy.
Over the past several years, Australia’s real inflation-adjusted wages have experienced their largest decline in modern history. Between the June quarter of 2020 and the March quarter of 2023, Australian real wages declined by 7.4%, returning to levels not seen since the March quarter of 2009. Real wages have recovered somewhat since, rising by 1.1%
NSW hails biggest and best result yet for long duration storage, with six massive batteries declared winners of latest tender, and at lower prices than previous auctions.
The post NSW awards contracts to six huge 8-hour battery projects, including the biggest in Australia appeared first on Renew Economy.
A parliamentary inquiry will examine the scale of the waste challenge looming on the flip-side of Australia's rooftop solar boom – and how to seize the opportunity it presents.
The post Federal parliament launches inquiry into solar panel reuse and recycling appeared first on Renew Economy.
Germany is moving to deepen ties with Italy as tensions rise with France over EU trade policy, Emmanuel Macron’s looming exit, and relations with US President Donald Trump, The Telegraph reported on Monday, citing diplomats from the bloc.
France and Germany have long been the “engine” of EU policymaking, but the outlet described Macron as a “lame duck” whose mandate ends in 2027.