OctaFX | OctaFX Forex Broker
Open trading account

Dairy prices slipped for the third consecutive GDT auction - ANZ

Analysts at ANZ explained that the dairy prices slipped for the third consecutive GDT auction overnight, with the GDT-TWI falling 3.5% and WMP dropping 5.5%. 

Key Quotes:

"For the latter, the main weakness was in product for delivery in the early New Year perhaps suggesting that demand for the Chinese free-trade window is now somewhat satisfied. Falls for longer-dated contracts were more modest, although importantly, prices across all contract periods are now below the key US$3,000/tonne level."

"We downgraded our 2017/18 milk price forecast to $6.25-$6.50/kg MS last month, and at face value, today’s result warrants some further caution."

"However, with the NZD/USD down around 4% since the mid-October auction, it shouldn’t be forgotten that there are some other key factors supporting the local farm-gate returns." 

Republicans should be able to avert a shutdown - Nomura

Analysts at Nomura explained that although Congress is currently consumed by tax reform, the budget deadline of 8 December is rapidly approaching. Ke
Read more Previous

JOLTS: job postings to remain strong in a tight labor market - Nomura

Analysts at Nomura offered a review of the JOLTS data. Key Quotes: "Job openings rose to 6093k in September, a modest acceleration from 6090k in Aug
Read more Next
Start livechat