Iron ore’s brutal collapse under $100 flags more trouble ahead Fri, 17 Sep 2021 15:59:01 +0000
Iron ore sank below $100 a ton as China’s moves to clean up its heavy-polluting industrial sector spurred a swift and brutal collapse.
Asian markets sank Wednesday as a slowdown in US consumer inflation failed to overcome concerns about the fast-spreading Delta variant, while Hong Kong was dragged by a collapse in casino firms as Macau unveiled a planned crackdown on the sector.
Aluminium broke $3,000 a ton for the first time in 13 years Monday on supply concerns while equity markets were mixed as record high US inflation ramped up concerns the Federal Reserve will have to tighten monetary policy sooner than later.
Strategists from almost all the top Wall Street banks have come out this week with a nervous message about the U.S. stock market.
The rand has reclaimed its position as the best-performing emerging-market currency this year after being knocked off the top spot during last month’s bout of volatility.
Asian markets bounced back Friday from the previous day's losses, with talks between Joe Biden and Xi Jinping adding to the positive mood heading into the weekend.
Eurozone stocks steadied Thursday after the European Central Bank only tweaked its pandemic stimulus measures and insisted surging prices are only temporary.
European and US markets extended losses Wednesday on worries central banks may soon begin winding down stimulus measures while aluminium prices hit a 13-year high after the coup in top global producer Guinea.
The Dubai Gold & Commodities Exchange and Zimbabwe’s Victoria Falls Stock Exchange signed a memorandum of understanding that may lead to the establishment of a gold market in the African country.
Asian markets mostly fell Wednesday as a tepid lead from Wall Street and worries about the impact of the Delta variant on the global recovery tempered investor appetite, though hopes for more stimulus helped Tokyo extend its recent rally.
El Salvador’s experiment using Bitcoin as legal tender had a rocky start as its price crashed on its first day as legal tender, while the roll-out was hampered by technical glitches.
European equities dipped Tuesday as investors turned cautious after recent gains, while bitcoin briefly bounced after becoming legal tender in El Salvador.
Asian markets mostly rose Monday after a big miss on US jobs creation last month fuelled optimism that the Federal Reserve will hold fire on tapering its massive financial support programme, while Tokyo extended last week's rally on hopes for more ec
The US dollar took a dive and gains in stocks evaporated after disappointing US jobs data, while Tokyo rose on stimulus hopes after Japan's prime minister signalled his exit.
Call it the "hash crash" — the steep drop in computing power for the Bitcoin network as Chinese operations pulled the plug amid the government crackdown.
The FSCA warned that - in addition to Binance not being authorised to provide any financial services or business - crypto-related investments are currently not regulated by the FSCA or any other regulatory body in South Africa.
Most markets rose in Asia on Friday following another record close on Wall Street ahead of US jobs data, while Tokyo led gains on hopes for fresh stimulus after Japan's prime minister said he would step down.
Stock markets rose on Thursday, buoyed by a strong opening on Wall Street following a drop in jobless claims in the world's biggest economy, traders said.
Asian markets mostly rose Wednesday as investors tried to assess whether the global recovery will be resilient enough to withstand the fast-spreading Delta Covid variant.
The pound extended gains on Tuesday to a two-week high against the dollar, which weakened after US Federal Reserve Chair Jerome Powell did not signal a timeline for a policy shift.