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Von Rico

4,752 Posts.

1116

21/08/21

09:57

Post #: 55462488
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Originally posted by Von Rico: ↑

@Crom Valen

Also on the same day that BHP released the announcement last Monday China released poor economic data. Last week also saw falls in the price of Iron Ore and Oil. These factors have also conspired to spook commodity related markets last week. Nothing to do with GBR specifically.

(Extract from Forexlive)
China data — the breakdown

Once a month, Chinese authorities present a tri-data package comprised of industrial production, retail sales and unemployment figures.

All three measures missed forecasts, with industrial production (+6.4%) rising at the lowest monthly rate since August 2020.“

These are poor numbers that are likely to spook broader markets,” said ForexLive analyst Adam Button, adding falls were likely to be exacerbated in commodities and commodity-linked currencies.

Expand

China news has caused commodity related currencies such as AUD to fall.

This is good for the Gold price in AUD. The 30 day price in $US is getting better following the recent flash crash in gold but still marginally down .

But in AUD the 30 day price is higher. Note the big disparity in currencies over the past week.

Blue line is AUD red line is US.

Last edited by Von Rico: 21/08/21

GBR Price at posting: 7.7¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 5.6¢		Change -0.001(1.75%)		Mkt cap ! $33.96M

Open	High	Low	Value	Volume
5.6¢	5.7¢	5.5¢	$47.04K	849.4K

Buyers (Bids)

No.	Vol.	Price($)
1	15009	5.5¢

Sellers (Offers)

Price($)	Vol.	No.
5.6¢	7281	1

View Market Depth

No.	Vol.	Price($)
6	418518	0.054
4	1108680	0.053
2	476750	0.052
3	125000	0.051
3	190000	0.050

Price($)	Vol.	No.
0.056	7281	1
0.057	89691	1
0.058	485715	2
0.059	304371	2
0.060	126592	1

Last trade - 15.01pm 18/07/2024 (20 minute delay)

GBR (ASX) Chart