-
Heading in the right direction
The ANZ World Commodity Price Index gained 1.3% in September after trending lower for the previous three months. The lift, although modest, was broad based with all major sectors, except horticulture, lifting. In local currency terms, the index rose 2.0% m/m as the NZD depreciated 0.1% against the Trade Weighted Index. chart Global shipping prices were mixed during September. The Baltic Dry Index, which tends to be the most volatile of the shipping indices, lifted a massive 57%, following the sharp lift in oil prices. Meanwhile, the China Containerised Index fell 5% and the Harper Peterson Global Index fell 9%. If ... (full story)