Oil recovers from session lows
Brent recovered from session lows and is anchored to $40 per barrel into the New York close, but traders are still waiting for clarification on OPEC free-rider dispute. The primary point of contention is centred on Iraq and Nigeria’s long-standing non-compliance to virtually all of OPEC + production deals as Russia and Saudi are right…
ASX soars 1.8pct to post-COVID high
The Australian share market has rallied to its highest level since March 6, with gains across nearly every sector on a wave of optimism about Australia’s economic prospects. The S&P/ASX200 benchmark index closed Wednesday close to the highs of the day, up 106.5 points, or 1.83 per cent, at 5,941.6 points, while the All Ordinaries…
GDP fell 0.3pct in the March quarter
Australia’s economy contracted 0.3 per cent in the March quarter, according to official figures that mostly predate the economic damage from the COVID-19 lockdowns. Gross domestic product grew just 1.4 per cent in the 12 months to March 31 as the economy took a hit from the bushfires and the beginning of the coronavirus crisis,…
China challenged over Aust trade hit list
Trade Minister Simon Birmingham has challenged China to respond to unsourced reports it is drawing up a hit list of Australian exports. Bloomberg reports Chinese officials are considering stricter checks for some Australian seafood, oats and fruit, and state media could encourage consumer boycotts. “This is an unsourced claim for Chinese authorities to respond to,”…
Green shoots of recovery?
Green shoots of recovery? Consumer confidence; Spending data; Weekly payrolls; Reserve Bank Consumer confidence: The weekly ANZ-Roy Morgan consumer confidence rating rose by 2.2 per cent to 92.3 points. Sentiment has lifted for seven straight weeks and is up 41.4 per cent since hitting record lows. Survey of payrolls & wages: The Bureau of Statistics…
Petrol prices lift the most in 13 weeks
Petrol prices lift the most in 13 weeks Weekly Petrol Prices; COVID-19 survey; Chinese economic data Petrol prices: According to the Australian Institute of Petroleum, the national average price of unleaded petrol rose by 8.2 cents last week – the biggest increase in 13 weeks – to 111.3 cents a litre. But unleaded pump prices…
Oil prices jump on signs of higher demand
US crude prices have reached their highest price since March, on strengthening fuel demand as countries around the world eased travel restrictions they had imposed to curb the spread of the coronavirus. US crude gained 19.7 per cent last week and Brent crude rose 5.2 per cent after a week of bullish news. Both contracts…
How can I invest in commodities via ETFs?
Investors can gain exposure to commodities via ETFs in two ways – either via ETFs which track the price of a particular commodity such as gold or through ETFs which track the performance of the resources index. Neither way is right or wrong but investors should be aware of the different outcomes each style of…
Why would I buy an ETF over a managed fund? What are the advantages of ETFs?
There are some major differences and advantages of ETFs over managed funds which investors should be aware of. The primary differences are summarised below: Risk Diversification ETFs usually provide all the diversification benefits of traditional managed funds, providing an investor exposure to an entire index. The diversification of an index means the risk position for…
Scalping Basics: what it is, and how it works
Scalping is a trading technique that involves opening and closing positions intraday in a variety of instruments such as FX, Futures or CFDs. Scalpers will aim to profit from small price movements in their trading positions, and tend to trade much more frequently than medium to longer term “trend” following traders. It is not uncommon…
