Australia / New Zealand

Dollar and U.S. Treasuries fell in Asian trading Tuesday, after President Donald Trump said he would remove a Federal Reserve Governor. This announcement undermined confidence in U.S. Assets. After Trump announced on Twitter that he would remove Lisa Cook from the board of directors of the Federal Reserve, it was the latest of a series attacks on the independence of the central bank. Asian shares fell in tandem with Wall Street, as the prospects of a Fed rate reduction next month became less certain. U.S. Stock Futures declined. Bart Wakabayashi is the Tokyo branch manager of State Street. He said,...

The Asian stock market started the day on a cautious note as traders anxiously awaited Jerome Powell's speech at the annual Jackson Hole Symposium. The financial markets are waiting for Powell to give clues on the likely likelihood of a rate cut for September, in light of recent signs of weakness of the job market and the short-term outlook for policy. Carol Kong, economist and currency analyst at Commonwealth Bank of Australia Sydney, said that markets are on edge before the Jackson Hole Speech. S&P futures gained 0.1% following a five-day losing spree on Wall Street. This puts the cash...

Gold prices and global equities fell on Thursday as traders avoided big moves, and awaited the three-day annual Jackson Hole Symposium of the Federal Reserve. The symposium begins on Thursday, and traders will focus on Fed Chairman Jerome Powell's Friday speech as they look for clues about the possibility of a rate cut in September. The U.S. Treasury rates increased as the meeting began. Oil futures rose, supported by strong demand from the United States and uncertainty about efforts to end war in Ukraine. The U.S. Dollar also gained, gaining 0.35% compared to a basket other currencies. Stocks in Asia...

Wall Street also opened lower on Thursday as traders avoided big moves in anticipation of the three-day Jackson Hole Symposium, which is being held by the Federal Reserve. Jackson Hole begins on Thursday, and traders will be watching for clues about a possible September rate cut. Stocks held near their recent highs in Asian trading and Australia's benchmark reached a new record. The European session was a struggle for the markets to gain ground. People are slouching. "You have two big unknowns in the near future, Jackson Hole tomorrow, and the Fed on September," said Tim Graf. He is head...

Early trading on Thursday saw European stock markets fall slightly, just below their recent highs. Traders avoided big moves, instead waiting for the three-day annual Jackson Hole Symposium of the Federal Reserve. Jackson Hole begins on Thursday, and traders will be watching for clues about the possibility of a rate cut in September. Fed Chair Jerome Powell is expected to speak on Friday. People are sitting around. "You have two big unknowns in the near future, Jackson Hole tomorrow, and the Fed on September," said Tim Graf. He is head of macro strategy at State Street Markets for EMEA. He...

Investors braced themselves for three days worth of potentially market-moving information from the Federal Reserve annual symposium in Jackson Hole. The event begins later that day and will feature central bankers from all over the world. Traders are focusing on the Fed Chair Jerome Powell’s Friday speech to assess the likelihood of a rate cut in September. At the opening, both the pan-European STOXX 600 and Germany's DAX indexes were little changed. The FTSE 100 in Britain rose by 0.1% while the CAC 40 in France fell by 0.1%. Michael Brown, Senior Research Strategist at Pepperstone, said: "I am still...

Investors were preparing for three days worth of market-moving information from the Federal Reserve annual symposium at Jackson Hole. The event will begin later that day. The main focus of the traders is on Fed Chairman Jerome Powell’s Friday speech as they try to gauge whether a rate cut in September could be imminent. The underlying momentum of equities remained strong, with Australia's benchmark index rising 0.9% and hitting a new record. Other indexes have lost some ground, but are still not too far off their recent highs. The Nikkei index, which reached an all-time high on Tuesday in Japan,...

Wall Street shares fell on Wednesday as a tech sell-off continued into the second day. Currency and rates traders remained focused on a meeting of central banks later this week. The S&P 500 finished down 0.2%, while the Nasdaq Composite, which is dominated by technology companies and has a high tech component to it fell 0.7%. This was a significant decline after Tuesday's steep drop. Both indexes have partially recovered from earlier, deeper losses. The Dow Jones Industrial Average rose 0.04%. Analysts attributed the decline in tech stocks to a number of factors, including fears over high valuations, investors selling...

The dollar gained ground on Wednesday ahead of an important meeting of central banks later this week. Oil prices rose after a fall in the previous session. Traders bet on the possibility that talks about a possible deal to end the conflict in Ukraine would ease sanctions against Russian crude oil and boost global supply. Stock futures in Europe, the U.S. and Europe all fell by 0.47%. The EuroStoxx 50 futures fell 0.55%. DAX futures also declined by 0.5%. FTSE Futures slid 0.14%. S&P futures fell 0.2%, while Nasdaq lost 0.34%. This is a continuation of the overnight fall. The...

Wall Street and European stocks were flat or marginally lower Monday, ahead of an eventful week in U.S. rate policy. Meanwhile, attention was focused on Washington where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 was slightly down in midday trading but remained within striking range of its Friday all-time high. The MSCI All Country World Index was 0.1% lower but still not far off its record high reached on Friday. In the Asian session earlier, indexes from Japan, Taiwan, and China reached record highs, with a Chinese stock gauge reaching its highest level for...

The U.S. shares and European stocks started the week cautiously, ahead of an eventful week in U.S. rate policy. Attention turned to Washington, where Volodymyr Zelenskiy from Ukraine and European leaders would meet Donald Trump. S&P 500 remained near its Friday high in the early trading on Monday. The MSCI All Country World Index was also down 0.15% and within touching distance of Friday's record high. In the Asian session earlier, indexes in Japan, Taiwan, and China reached record highs, while an indicator of Chinese stocks hit its highest level for a decade. After Trump's Friday summit with Russian president...

Ampol, Australia's largest fuel retailer, posted a 23% drop in profit for the first half 2025. The result was better than expected, as it was affected by weather and operational disruptions. The planned maintenance shutdowns, as well as production losses due to a cyclone, disrupted the operations. Meanwhile, low Singapore refining margins impacted profitability at the Queensland refinery. The refinery's operating profit fell from A$89.5 to A$1.1 (roughly $716,210) compared to A$89.5 a year earlier. Earnings from the fuel and infrastructure division were also reduced by almost half to A$118.3 millions. The company's net income after taxes from its continuing...

Critical Metals announced on Tuesday that it had signed a 10-year contract to supply heavy rare-earth concentrate to Ucore Rare Metal’s U.S. Government-funded Louisiana processing plant. The Tanbreez Project, a Greenland-based mining project in the development stage, is expected to produce up to 10,000 tons of concentrate per year. This represents 10% of initial production projections. The U.S. is looking to increase domestic production of essential minerals in order to counter China's near total control over the sector. Ucore Louisiana's facility received $18.4 Million from the U.S. Defense Department to begin construction on phase one of four. The company expects...

India's Foreign Ministry said that the Quad Group of countries was important to India and Japan, especially in relation to critical minerals. The ministry also stated that the two prime ministers would be discussing the grouping during this week. The Indian Prime Minister Narendra Modi will visit Japan from August 29-30 to attend the 15th India Japan Annual Summit. He will also hold discussions with his Japanese counterpart Shigeru ishiba. Modi will fly to Tianjin, a Chinese port city on the coast of the Pacific Ocean for the Shanghai Cooperation Organisation Summit (SCO), which takes place between August 31 and...

Fortescue, an Australian company, reported on Tuesday its lowest full-year profit for six years. The results met analyst expectations and the dividend was maintained. Fortescue also reaffirmed its commitment to renewable energy following a refocus of its growth strategy. According to the fourth largest iron ore mining company in the world, net profit attributable after taxes was $3.37 billion during the year ending June 30. This is down from $5.68billion a year earlier. This compares to the average analyst estimate of $3.43billion, according data compiled by LSEG. Fortescue has had its worst performance since fiscal 2019. Fortescue has been pushing...

The iron ore futures reached a new high of one week on Monday, as Rio Tinto suspended its Simandou project after an incident. This heightened fears about a possible delay in the start of production at the mine. The January contract for iron ore on China's Dalian Commodity Exchange closed the daytime trading 2.27% higher, at 787 Yuan ($110.06), its highest level since August 14. As of 8:10 GMT, benchmark September iron ore traded on the Singapore Exchange was up 2.69% at $103.3 per ton. This is the highest price since August 14. Rio Tinto, world's biggest iron ore mining...

Two sources with knowledge of the situation have confirmed that the Trump administration is mulling over a plan in which at least $2 billion will be reallocated from the CHIPS Act for the purpose of funding critical minerals projects, and to increase Commerce Secretary Howard Lutnick’s influence on the strategic sector. The move proposed would use funds already allocated to Congress for semiconductor manufacturing and research, thus avoiding the need for a new spending request. It also aims to reduce U.S. dependency on China in terms of critical minerals that are widely used by electronics and defense industries. Sources said...

Two sources with knowledge of the situation have confirmed that the Trump administration is looking at a plan for reallocating at least $2 billion to the CHIPS Act in order to fund crucial minerals projects, and to increase Commerce Secretary Howard Lutnick’s influence on the strategic sector. The move proposed would use funds already allocated to Congress for semiconductor manufacturing and research, thus avoiding the need for a new spending request. It also aims to reduce U.S. dependency on China in terms of critical minerals that are widely used by electronics and defense industries. Sources said that boosting Lutnick's position...

James Hardie shares listed in Australia fell by more than 11% Thursday, and are on track for their largest two-day decline ever after the fibre cement manufacturer forecasted 2026 earnings that were below analyst expectations. The company cited a weak North America marketplace as a reason. The share price has dropped 36% in the last two days to A$28.34, losing more than A$9 Billion ($5.78 Billion) in market value. This sell-off reflects broader investor dissatisfaction with Australia listed companies that have failed to meet their targets. The selling began on Wednesday, after the company announced that it would have adjusted...

Frank Ha, the CEO of China's Tianqi Lithium, said that Tianqi Lithium was open to renegotiating with joint venture partner IGO its stake in Kwinana Lithium Refinery in Western Australia. A lithium price slump has caused operational problems and production delays at the refinery. IGO, the company that owns 49% of the refinery, has written down its value and expressed low confidence in the ability to improve the asset when it filed a report last month. Ha stated during a press briefing that he was "open to any of their suggestions we can discuss." However, he said they had not...

The U.S. president Donald Trump blasted on Tuesday the decision of an appeals court to temporarily block federal officials' ability to complete a land transfer required for Rio Tinto to and BHP's Resolution Copper Project in Arizona. The 9th U.S. Circuit Court of Appeals, based in San Francisco, has ruled that the transfer - which was scheduled for Tuesday - should be halted while the court weighs a request from San Carlos Apache tribe to block this project due to religious and cultural reasons. The 9th U.S. Circuit Court of Appeals, based in San Francisco, ruled Monday that the transfer...

BlueScope Steel, an Australian company, reported on Monday a 90% drop in its annual profit, citing a charge for impairment at its coated product business and sluggish performance at its North America operation. Its shares fell 7% as a result. As of 0018 GMT the shares of BlueScope Australia's largest steel producer were at A$22.55. This was their lowest level in over seven weeks. The benchmark ASX 200 index was down by 0.2%. BlueScope Steel’s North American Division's coated product business reported a loss due to lower volumes and operational difficulties. This led to an impairment charge of A$438.9 ($285.90)...

Chile's copper state commission has lowered its estimate of growth for 2025, saying that it expects a 1.5% increase from last year. This is half the growth estimated by the commission in May, which was 3%. Cochilco announced on Wednesday that the production of the world's largest copper exporter will reach 5.58 millions metric tons in this year. The commission also maintained its forecast for copper prices to average $4.30 per pound in 2025-2026. The Commission said that the decline in growth forecast was due to the June decrease in production of BHP's Escondida Mine, the world's largest copper deposit,...

Radico Khaitan will launch a premium brand of tequila in partnership with Bollywood actor Shah Rukh Khan, Zerodha cofounder Nikhil Kamath, and Zerodha founder Nikhil Kamath. This is their first foray into this category. The Indian liquor producer, well-known for its premium products such as Rampur Indian single malt and Jaisalmer Indian Craft gin, will launch the brand D'YAVOL Anejo, a premium spirit aged in wine casks about two years. D'YAVOL is a luxury brand founded by Shah Rukh Khan's Son Aryan Khan in 2022, along with Leti Blagoeva, and Bunty Sing, and headquartered in Amsterdam. It offers premium streetwear,...