The jaws must shut to restore steel mill profitability. The range trade must break down. Scuttlebutt is nasty. Iron ore prices typically rebound from early November to February before easing. However, significant losses from winter stockpiling in recent years, along with current high operating rates, may curb stockpiling enthusiasm this year, said Chinese broker Zhongtai
The Market Ear has some concerns. AI’s not the problem. Euphoria is No, this isn’t a “we hate AI” note. It’s a trading technical read on a market that’s gone full parabolic. For the first time in over a year, every indicator we track in Mag7 is flashing red contrarian sell. The indicators don’t care
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God save me from the eggheds of the RBA. RBA governor Michele Bullock, in her opening statement addressing a press conference, says the central bank may have misjudged “the gap” between supply and demand in the economy. “Overall, when we take into account a broad range of indicators, we judge that the labour market is
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DXY is breaking out in the nightmare scenario for everybody. AUD was monkeyhammered. CNY is gassed. Gold and oil no bueno. AI metals no more. The chosen one gaps into madness. EM yeh, nah. Junk knew. Yields offer hope. Stocks did a gold. There is nothing this market hates more than a rising DXY. One
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On July 4, 1776, America freed itself forever, it believed, from the tyrannical rule of kings. Yet here we are today, almost 250 years later, as millions of Americans are gearing up for the 2028 presidential election, contemplating the possibility that Donald Trump will opt to remain in power. And it’s not altogether beyond the realm of possibility.
Wall Street corrected sharply overnight led mainly by tech stocks as the NASDAQ fell back nearly 2% in response to a variety of concerns – mainly the looming spectre of stagflation – but also some disappointment around earnings at the orc-stronghold of Palantir. The USD is pushing higher against all the majors with the Canadian
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The Australian Bureau of Statistics (ABS) released housing approvals data for September, which recorded 16,360 trend approvals, a 0.9% increase from August. It was the strongest trend monthly approvals since February 2022. Even so, approvals in September were 3,640 (18%) behind the National Housing Accord’s five-year target of building 20,000 homes per month. In the
..... an awkward introduction in Kyiv where Ambassador Whitaker (U.S. ambassador to NATO) and European leaders meet. Whitaker frames the U.S. role as selling weapons to NATO allies — who then supply them to Ukraine — under a “we won’t give things away, we’ll sell them” policy (the “PURL” initiative). He mentions roughly $2.5 billion in expected sales/packages.
Last week, I reported on the latest annual national accounts from the Australian Bureau of Statistics (ABS), which showed that the total value of residential land in Australia increased by 7.0% during the 2024-25 financial year to a record $8.3 trillion. The next chart shows that total residential land values in Australia have skyrocketed from
On Monday, the charity Oxfam published a report on the growth of social inequality in the United States, titled “Unequal: The Rise of a New American Oligarchy.”