Gold fell in the first consultation by eight, copper rose, oil rose and iron ore fell, in what would be called a “cliché” trade consultation: a little of this, a little of that, and ignoring the continued sell-off. -Off in stocks.
The driving force is the buzz generated among investors, analysts, and others about whether, by what amount, and when U. S. interest rates will be cut; 2024 remains the underlying target, but if U. S. employment awareness tonight is well above 200,000, a cut may only be seen later.
If they are well below 200,000, then we will go back to “low-cost looms”.
Iron ore, Australia’s main commodity, ended at $98 a tonne on Singapore’s SGX platform, trading in a narrow diversity without any strength.
China has introduced new regulations for the purchase of electrified cars in a bid to keep sales high, a progression that is likely to worry renewable energy investors. Sales of new-horsepower cars in China in the March quarter fell 30% from the December quarter’s record of 1. 08. million.
Gold closed lower on Thursday for the first time in 8 sessions after a record-breaking run that took it above $2,300 for the first time.
Gold for June delivery closed down US$6. 50 at US$2,308. 50 per ounce, while the first month ended at US$2,283 per ounce, down nearly US$11 per ounce. The Australian value is back to around A$3,477 per ounce, thanks to the fall and the Australian dollar.
Copper on Comex for May rose 0. 50% to end at just over $4. 21 a pound: more hope than anything else, as scarcity continues to guarantee strength, not demand.
Wall Street posted a fourth sales query, the worst streak in six months.
Oil, however, rose: U. S. crude hit $86. 74 in early Asian hours on Friday and Brent crude topped $90 a barrel for the first time in more than six months.
Federal Reserve Leader Jay Powell’s speech and Q&A consultation on Wednesday at Stanford University in California have been reassuring, as he repeated earlier comments that the central bank will want to have confidence that inflation is approaching its 2% target, as is known. continues to show. The U. S. economy remains buoyant.
“We don’t think it’s appropriate to reduce our policy rate until we’re confident that inflation is sustainably falling toward 2 percent. Given the strength of the economy and the progress made so far on inflation, we have time to let new insights advise our policy decisions,” Powell said.
It’s nothing more than what he said, but markets know and are coming to the conclusion that the temperature is warmer than the Federal Reserve was looking for, and rising oil prices add to concerns as we head into the summer season and emerging economies. costs. gas costs.
With the Federal Reserve expected to cut rates three times this year, to a total of 75 basis points, contradictory statements from its officials have clouded the outlook.
After Powell’s comments, another Fed member, Raphael Bostic, took a much tougher line by suggesting there could be only a 25 basis point cut this year and not until the fourth quarter.
Treasury yields rose and then fell, repeating what happened on Wednesday.
The yield on the two-year U. S. bond opened at 4. 6812%, then rose to just over 4. 70% and then fell to close at 4. 65%. The yield on the 10-year Treasury note rose as high as 4. 38% but ended at just 4. 31% and was lower on the session.
The U. S. dollar weakened later in the consultation and the Australian ended around 65. 85 U. S. cents, a slight gain on the day.
The former replacements reflected the lack of certainty in all the stories around the markets: high levels for longer, or falling and then no replacement for a long time. In fact, the only common theme is that the story of the three cuts may not take place simply because the U. S. economy has been too healthy lately.
Ahead of Friday’s jobs report and following next week’s March customer value inflation report, no one is taking any risk. This can be negative for your monetary health.
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Increases across all areas of Deep Leads resources: quality, tonnage and target area ABx Group has reported a 30% increase in its Mineral Resource Estimate (MRE) at the Deep Leads Ionic Adsorption Clay (IAC) rare earth deposit in northern Tasmania. The accumulation in MRE comes from 36 extension wells analyzed, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding memorandums of understanding within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese commodity trading company, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are in a position to engage in longer-term strategic partnerships with LKE. Commercial negotiations are still ongoing, but they should, i. e. if Ford and Hanwa inject new capital into LKE, it will further reduce the risk of the financing of the assignment and thus ensure that LKE and Kachi are fully funded.
Two recent severity studies have particularly exceeded expectations and revealed the possibility of expanding the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade-long Tier 1 SOP production facility around Throssell Lake.
TMG is currently completing paints for the planned PFS in early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and permitting activities. The effects of these systems will affect the SFP and any long-term resource improvements.
SOP reference prices have risen to around 940 USD/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that every 10% accumulated in value effects at a cumulative $144 million in NPV of the $364 million allocation. The increase of approximately 70% during the scoping study implies an allocation NPV of approximately $1. 4 billion.
Despite the drop in oil and fuel prices, which fell by 5. 4% and 19. 7% respectively in August, Calima managed to record an improvement in its key industry indicators.
WT Financial Group Limited (WTL) is a fast-growing diversified monetary company founded in 2010 and indexed on the Australian Securities Exchange (ASX) in 2015. Their recommendations and product offerings are primarily provided through an organization of independent money advisors who act as legal representatives. . de WTL in connection with its broker organisation business Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisers in more than two hundred money advice firms across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a comprehensive study report on ASX-listed biotech company Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect felt it was imperative to publish a follow-up report that valued the company. as the market did not see the great prospects of Eftilagimod Alpha (EFTI).
The follow-up report published today. Using comparables, after adding a monetary rebate to its EV estimate and dividing it by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at A$2. 20.