by Michael Grogan, First Class Analytics
With an economic slowdown in China and a fall in commodity prices, Australian iron ore exports have been hit hard. With the commodity being Australia"s largest export and accounting for over 74 billion AUD in the years 2013-14, Chinese iron ore import prices (in $ per tonne) have fallen from approximately $120 during this period to just under a current price of $60.
Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.
This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).
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Fines, Legal Expenses, DUI CLasses and Higher Insurance Premiums are Among the Financial Challenges
Written by Liz Becker
Just being apprehended and charged with driving under the influence is a very stressful experience. But that is only the start of the stress. Next you have to deal with all of the fines and costs associated with the disposition of the charges. And the costs continue to mount up after you leave court. Everyone knows that a DUI can really drain your wallet in many ways. Since you can"t go back in time and change your decisions, its time to think about the future.
Infographic Of The Day: The Hashtag
Like any good story, let’s start at the beginning.
FOREX NEWS by DailyForex
The People’s Bank of China announced earlier that they were slashing banks’ reserve requirements in an effort to encourage bank lending while at the same time attempting to reverse the country’s slow growth trend.
According to well-known investor, Marc Faber, Greece is bankrupt and should default, positing that a "geopolitical game of chess" was being played out in the region.
As fears of a default weighed on European and U.S. stock and bond markets, the European head of the International Monetary Fund (IMF) said on Friday that Greece’s growth projections will need to be "significantly" revised down from the estimate made last week that Greece's economy would grow by 2.5 percent this year and 3.7 percent in 2016.
Again, it should be a quieter week, with the primary focus likely to fall upon the Australian Central Bank statement and Eurogroup Meetings. Get the economic and political calendar for the week of April 20, 2015 here.
Ask any consumer if they are worried about falling prices and they will give you a bemused smile and say “no”. In the experience of most of us, falling prices are only ever a transient effect, a pleasant and fleeting surprise.
20Apr2015 Market Close: No Surprises Today, Nothing To See, Move Along. Markets Close Up, DOW Up Triple Digits
One can never say an empirical quantity is exactly equal to a precise number.
by Dirk Ehnts, Econoblog101
I was at the INET conference last week and met many interesting and knowledgable people. One conversation was with somebody from the OECD (Organization for Economic Cooperation and Development) . He called for heterodox modelers to improve their models so that they can be used for policy advice.
Written by Gary
Markets gap up, trade sideways and close. All on minuscule volume and has investors wondering what is ahead. We have not had a heavy down session like we had on Friday without the markets continuing to fall for anther 3 or 4 sessions. Yet, today we had a session that not only recovered Friday"s losses but closed higher.
By 4 pm the major averages closed above 1.0% in gains no significant closing volume to speak of. The DOW closed up triple digits while the afternoon trading was sideways in a very narrow zone that may suggest that tomorrow will be down, ahem, maybe up.
We have discovered there are 2 types of market investors that you might find interesting - read on.
20Apr2015 Pre-Market Commentary: Premarket Futures Up, Oil Off Last Nights High, U.S. Dollar Trendin
Econintersect: Average gasoline prices rose 7.6 cents per gallon nationwide this past week following the previous week"s 0.5 cent fall. From the same week one year ago, gas prices have fallen $1.19 a gallon.