China’s official manufacturing gauge held up in May, buoyed by an improving global outlook.
Gold Silver Reports — European stocks edged higher, even as mining companies retreated with industrial metals following China’s credit-rating downgrade. The euro and dollar steadied as investors awaited fresh clues on the path for U.S. borrowing costs.
Gold Silver Reports — Chinas iron ore price index (CIOPI) was 293.68 points on March 30th, reducing by 0.58% of 1.71 points compared with the same period of last month.
Gold Silver Reports — China continues to be the largest oilseed importer in the world.In MY15/16, Chinas total oilseed imports reached 87.93 million tons (MMT). Chinese total soybean imports hit another record at 83.23 MMT, absorbing 61 percent of total world exports, and 59 percent of total U.S. soybean exports. United States Department of Agriculture (USDA) estimates this growing trend in soybean imports will continue and reach 86 MMT in MY16/17, and 89 MMT in MY17/18.
Gold Silver Reports — Looking for the best carry trade in currency markets? The Taiwan dollar leads the pack. With global currency volatility near a three-month low, conditions are supportive for carry trading in emerging currencies from the Brazilian real to the Thai baht and Russian ruble. The Taiwan dollar trade has outperformed this year, defying concerns that U.S. President Donald Trump may impose protectionist policies that hurt the island’s exports, which are critical to its economy. Overseas shipments have actually been growing. Taiwan also recently raised its 2017 economic growth forecast, and its financial markets are sizzling.
Gold Silver Reports — After a long downtrend, prices of some rare metals have been recovering since the beginning of the year.
Gold Silver Reports — Gold’s biggest rally in almost four decades has further to run as weak economies and teetering equity markets drive investor demand for the metal, according to Citrine Capital Management LLC.
Gold Silver Reports — The new head of China’s statistics bureau last month visited a Beijing district that’s home to some of the biggest technology companies to deliver the message that his agency must improve tracking of the new economy “as soon as possible.”
Ning Jizhe said in a meeting with Beijing’s mayor and top Communist Party official that it’s challenging to accurately track new industries and business models, according to an article published by his agency, the National Bureau of Statistics. Officials haven’t created systematic ways to collect and classify data on the new economy, said Ning, a close adviser to Premier Li Keqiang who was named to the position in February.
Gold Silver Reports — The recent spike in speculative trading in commodities in China has stunned global markets, according to Morgan Stanley, which cited a jump in local activity for steel, iron ore and cotton as well as eggs and garlic.
Gold Silver Reports — China’s biggest banks stand exposed to their 1st annual profit declines in more than a decade.