Despite multiple distractions, including US election fever, a spectacular derailment on BHP’s iron ore railway and a horse race in Melbourne, the recovery on the market reported here last week has continued
Disruption is the order of the day on global financial markets, but rather than fear the changes which are angering investors, an investment bank has come up with a concept which could produce big wins from disruptive exploration and discovery.
Shifting global economic leadership back to the US has started to play a role in commodity prices, with base metals and oil leading the way up this week while Australian resource stocks also benefited from a continued slide in the A-dollar.
While it is far too early to declare the US the winner in its trade war with China, the early signs point that way with the US central bank head, Jay Powell, predicting that economic expansion could “continue for quite some time”.
Gold, despite a tick down in the price this week, has surged to the top of the “must-watch” list for investors as the process of increasing US interest rates enters the final stretch and central banks step up their gold buying to trim exposure to the US dollar.