ANZ World Commodity Price Index recorded its first lift in three months in September
+1.3% m/m
- prior -2.9%
In local
currency terms, +2.0% m/m with the NZD depreciating 0.1%
against its Trade Weighted Index
—
As part of their monthly report ANZ include commentary on 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 oil prices remain strong then this will put upward pressure on freight
prices, but at the same time demand for shipping services is a little subdued
which is helping to keep prices in check.
NZD/USD update: