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Chinese property buyers gone

January 18, 2018 - 05:00 -- Admin

Via the AFR: Major Chinese developers have warned that the decline in foreign buyers in the residential property market has reached critically low levels as taxes and credit restrictions all but collapse demand. They said foreign buyers have dwindled to as low as 1 per cent of off the plan sales, down from close to

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Bitcoin crash intensifies

January 18, 2018 - 04:34 -- Admin

It’s turning nasty for BTC with $10k now history: A note from Capital Economics is uncharacteristically blunt: Claims that cryptocurrencies will replace established fiat currencies are rubbish; our view is that Bitcoin is a bubble. Indeed, the latest price falls suggest that the bubble is bursting – although with prices still ten times higher than

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HSBC: Australian dollar to roar to 84 cents

January 18, 2018 - 00:15 -- Admin

Via HSBC currency strategist Tom Nash: Overall, risks appear asymmetric in favour of developments in the balance of payments supporting the rise in AUD-USD towards our year-end forecast of US84c. Global growth is more supportive of higher commodity prices than in the recent past and history tells us that some of the windfall will find its

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Links 18 January 2018

January 18, 2018 - 00:05 -- Admin

Global Macro/Investing/Economics Thermometer in world’s coldest village breaks as temperatures plunge to -62C – Telegraph Europe’s central banks are starting to replace dollar reserves with the yuan – QZ Study: Trump’s Presidency Has ‘Accelerated’ the Decline of Democracy Worldwide – Fortune BlackRock’s Message: Contribute to Society, or Risk Losing Our Support – NYT Did Bitcoin Just Burst? How It

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Daily iron ore price update (Samarco)

January 18, 2018 - 00:05 -- Admin

Iron ore prices for January 17, 2018: Tianjin benchmark fell another $1.25 to $74.35. Paper has stopped sliding for now. Steel is firm. In news, Samarco is back in the news: Vale (NYSE:VALE), the world’s largest iron ore producer, confirmed Wednesday it is in talks with BHP Billiton over the future of their Samarco joint

The post Daily iron ore price update (Samarco) appeared first on MacroBusiness.

Macro Afternoon

January 17, 2018 - 16:37 -- Admin

Not quite a bath of blood here in Asia as the reaction to the US stock selloff was very mild indeed. The USD came back a little against most of the majors dragging commodities down slightly, with most Asian bourses having their own very mild retreats. Nothing like the 25% in a day moves in

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Oz Taiwanese waitress fired for defending sovereignty

January 17, 2018 - 15:12 -- Admin

Via Taiwan News: A Taiwanese woman working as a waitress in a hot pot restaurant in Sydney, Australia was fired by her Chinese boss after she refused to agree with his statement that Taiwan is part of China, reported Apple Daily. On her Facebook page, a waitress, who media have only identified by the first name

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Australia’s dwelling construction set to decline over 2018

January 17, 2018 - 12:29 -- Admin

By Leith van Onselen The ABS has released dwelling construction data for the September quarter of 2017, which recorded an increase in dwelling commencements but a fall in completions. According to the ABS, the number of dwelling commencements rose by a seasonally-adjusted 0.7% over the September quarter but were down by 3.3% over the year.

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Australian dollar 80 cents squashes ASX to 6000

January 17, 2018 - 12:19 -- Admin

Dalian is open and going nowhere fast: The Australian dollar loved consumer and credit data. DXY is tumbling again too. AUD is within a whisker of 80 cents: XJO hated same and is down sharply towards 6000 again as the Aussie dollar sits on it like circus elephant. Head and shoulders topping patterns are forming

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Housing finance commitments rise on FHB stimulus

January 17, 2018 - 11:57 -- Admin

By Leith van Onselen Today’s housing finance data for November, released by the Australian Bureau of Statistics (ABS), posted a big jump in lending to owner-occupiers as well as a smaller increase in lending to investors. According to the ABS, the total number of owner-occupier finance commitments (excluding refinancings) rose by 2.4% in November in

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