Daily FNArena News

Macquarie and NAB have this week put up lengthy arguments for a higher US dollar gold price.

The June quarter Westpac-ACCI Survey of Industrial Trends has recorded stronger conditions in the manufacturing sector, with indications for a similar outcome in the September quarter.

Another 8.3% fall in the Shanghai Composite yesterday failed to have any significant ramifications for equity markets around the globe. Is the China threat now considered benign?

The latest business data shows the Australian economy still firing on all cylinders, which suggests upside risk for growth.

Two auctions in the past week have pushed up the spot uranium price by double digits. With another auction coming up in two weeks US$150/lb doesn’t look that far off anymore.

The May TD Securities/MI inflation gauge confirms the benign inflation growth picture for Australia rising by 0.1% after rising by a similar figure in April.

Excessive gold sales from the ECB and individual European central banks have acted as a tonne weight on the gold price, but now the ECB has called it quits for the fiscal year.

A raft of diverse economic data this week should give a good indication of just how the Australian economy is performing, while no RBA rate change is expected on Wednesday.

Grange Resources has announced Japan’s Sojita will earn a 30% stake in its Southdown iron ore project, one that should generate revenues of as much as US$700m annually.

TD Securities doesn’t expect it but global strategist Stephen Koukoulas offers a number of reasons why US rates may go higher before going lower.