XE Market Analysis: North America – Jan 15, 2021

The dollar has traded moderately firmer, while modest weakness has been seen in the euro and yen, alongside a smidgen of firmness in the Canadian dollar. EUR-USD edged out a two-day low at 1.2136, which is 4 pips shy of the 24-day low that was seen earlier in the week. A lift in the 10-year U.S. T-note yield back above 1.1%, alongside the continued resonance of ECB Lagarde and Villeroy’s rhetorical shot across the bows of euro bulls yesterday, seems to have maintained EUR-USD’s heaviness. U.S.

Source: XE news feed
XE Market Analysis: North America – Jan 15, 2021

XE Market Analysis: Europe – Jan 15, 2021

The dollar has traded firmer amid a backdrop of sputtering global stock markets, which, having lifted yesterday on reports of a $2 tln fiscal stimulus package from president-elect Biden, dropped back after he confirmed the package would total $1.9 tln. Market participants overlooked remarks from Fed Chairman Powell, who ruled out raising interest rates anytime soon while rejecting suggestions the central bank might start reducing its bond purchases in the near term, while the PBoC today conducted a liquidity-draining operation that added to a bearish tone in Chinese and other Asia markets.

Source: XE news feed
XE Market Analysis: Europe – Jan 15, 2021

Recruitment: Operating smarter in 2021

The commencement of a new year is often a time for employers in the agricultural industries to reflect on their future hiring requirements, and for employees, to plan a career move. For employers and candidates alike, there are implications from operating in a COVID-affected job market.

Source: Sheep Central
Recruitment: Operating smarter in 2021

Recruitment: Operating smarter in 2021

The commencement of a new year is often a time for employers in the agricultural industries to reflect on their future hiring requirements, and for employees, to plan a career move. For employers and candidates alike, there are implications from operating in a COVID-affected job market.

Source: Beef Central
Recruitment: Operating smarter in 2021

Laporan Pasar: Industri Daging Sapi Asia Tenggara – Desember 2020

Edisi ke-85: Para importir masih terus berjuang menghadapai kesulitan akibat kombinasi antara nilai tukar AUD yang kuat dengan meningkatnya harga sapi Australia; Harga eceran daging sapi di Indonesia dan Vietnam tetap stabil, kendati terjadi kenaikan tajam pada CIF dan harga sapi potong; Setelah 4 tahun mengalami muson yang lemah, musim hujan Australia yang “normal” kembali membatasi akses ke sejumlah kecil kawanan sapi yang masih tersedia untuk diekspor sebagai ternak hidup.

Source: Beef Central
Laporan Pasar: Industri Daging Sapi Asia Tenggara – Desember 2020

SE Asia Report: Access to stock tightens with return to normal wet season

Importers continue to struggle with a combination of a strong AUD and rising Australian cattle prices, while a “normal” Australian wet season after four weak monsoon years is restricting access to the small number of stock still available for live export, Dr Ross Ainsworth writes in this month’s South East Asian market report.

Source: Beef Central
SE Asia Report: Access to stock tightens with return to normal wet season

XE Market Analysis: Asia – Jan 14, 2021

The Dollar attempted to rally early in the N.Y. session on Thursday, taking the DXY to two-session highs of 90.58, up from overnight lows of 90.24. From there, a round of profit taking set in, seeing the USD reverse lower against major currencies. There was little initial reaction to the much worse than expected jobless claims figures, though the data later could have been a driver of Dollar weakness. Wall Street and Treasury yields were higher ahead of Biden’s address this evening, where he is expected to outline his stimulus plans, which could be in the order of $2.0 tln.

Source: XE news feed
XE Market Analysis: Asia – Jan 14, 2021

XE Market Analysis: Europe – Jan 14, 2021

Modest weakness in the euro and yen, along with a smidgen of firmness in the Canadian dollar, were pretty much the only directional themes among the main currencies in trading through to the early London interbank session. EUR-USD edged out a two-day low at 1.2136, which is 4 pips shy of the 24-day low that was seen earlier in the week. A lift in the 10-year U.S. T-note yield back above 1.1%, alongside the continued resonance of ECB Lagarde and Villeroy’s rhetorical shot across the bows of euro bulls, seems to have maintained EUR-USD’s heaviness. U.S.

Source: XE news feed
XE Market Analysis: Europe – Jan 14, 2021

96 Polaris SSVs recalled

A recall notice has been issued for 96 Polaris side by side vehicles sold nationally between December 2019 and October 2020, due to concerns that clutches may fail under high-load, low speed conditions.

Source: Beef Central
96 Polaris SSVs recalled

XE Market Analysis: Asia – Jan 13, 2021

FX trade was relatively quiet in N.Y. on Wednesday, keeping the DXY inside of a 90.20 to 90.45 trading band. Incoming data saw December CPI on the cooler side of expectations, though there was little market reaction. Wall Street struggled, though into the close, the major indices were all in modestly green territory. Treasury yields came off the boil following a well-received 30-year bond auction. Looking forward, prospects for huge additional fiscal stimulus from the new Congress, along with the rollout of Covid vaccines will likely result in a faster than initially anticipated U.S.

Source: XE news feed
XE Market Analysis: Asia – Jan 13, 2021

XE Market Analysis: North America – Jan 13, 2021

The dollar lifted out of lows, aided by gains against the euro after ECB’s Villeroy fired a rhetorical volley across the bows of euro bulls, reminding the forex market that he and his colleagues “are monitoring with particular attention the negative effects of the euro exchange rate.” Market participants, meanwhile, overlooked a much stronger than expected Eurozone industrial production data. The ECB’s concern about euro appreciation alongside prospects for an unrestrained Biden presidency in the U.S. are grounds to reconsider the upside potential of EUR-USD.

Source: XE news feed
XE Market Analysis: North America – Jan 13, 2021

XE Market Analysis: Europe – Jan 13, 2021

The dollar has declined for a second day, further giving back the rebound gains that were seen in the wake of the Georgia runoff elections in the U.S., and despite tomorrow’s detailing by president-elect Biden of the Democrat party’s economic stimulus plan. The dollar softened following remarks by Fed hawks Mester and George, yesterday, who pushed back on speculation that the central bank might taper its asset purchase program during 2021. U.S.

Source: XE news feed
XE Market Analysis: Europe – Jan 13, 2021

Thomas Elder Markets analysis: Look at those weaner prices!

In this cross-posting from the Thomas Elder Markets website, livestock market analyst Matt Dalgleish tackles the question many people are pondering in the wake of the 2021 southern weaner sales: can buyers still expect to turn a profit from young cattle purchased at last week’s record price levels?   

Source: Beef Central
Thomas Elder Markets analysis: Look at those weaner prices!

Weekly rainfall wrap + rain outlook, 13 January 2021

A surface trough and the remnants of ex-tropical cyclone Imogen near the north tropical coast of Queensland brought widespread moderate falls to northern and eastern Queensland. while thunderstorms and showers produced moderate falls across the Top End in the Northern Territory and northern Western Australia.

Source: Beef Central
Weekly rainfall wrap + rain outlook, 13 January 2021

Hull damaged live export ship hit with unprecedented two-year-ban by AMSA

The Australian  Maritime and Safety Authority (AMSA) has taken the extraordinary step of banning an Australian livestock vessel from entering any Australian port for two years, after it suffered hull damage in the Indian Ocean during a ballast voyage on return from Indonesia two months ago.

Source: Beef Central
Hull damaged live export ship hit with unprecedented two-year-ban by AMSA

XE Market Analysis: Asia – Jan 12, 2021

The Dollar was range bound in N.Y. on Tuesday, though ultimately ended modestly lower overall. The DXY touched 90.54 highs early in the session, later easing under 90.30 in relatively quiet trade, after being unable to breach Monday’s three-week high of 90.72. There were no major data releases to move markets. Risk-taking levels were narrowly mixed, seeing Wall Street trade either side of flat through the session.

Source: XE news feed
XE Market Analysis: Asia – Jan 12, 2021

XE Market Analysis: North America – Jan 12, 2021

The dollar has taken a step back, correcting some of the gains that have been seen since it become clear that the Democrats in the U.S. were going to control the Senate, in addition to the Presidency and House. Some narratives attributed this in part to reportedly large demand for China’s yuan, linked to the proximity of the one-week Lunar New Year holiday, even though this is a month away (on February 11th). This saw USD-CNY drop back from the one-week highs that were seen yesterday.

Source: XE news feed
XE Market Analysis: North America – Jan 12, 2021

XE Market Analysis: Europe – Jan 12, 2021

The dollar fell back, correcting some of the gains that have been seen since it become clear that the Democrats in the U.S. were going to control the Senate, in addition to the Presidency and House. Some narratives attributed this in part to reportedly large demand for China’s yuan, linked to the proximity of the one-week Lunar New Year holiday, even though this is a month away (on February 11th). This saw USD-CNY drop back from the one-week highs that were seen yesterday.

Source: XE news feed
XE Market Analysis: Europe – Jan 12, 2021

2021 weaner sales: ‘era of the female’ | online sales to stay | too much for one week?

As the dust settles on last week’s record-breaking southern weaner sales, market analyst Murray Arnel and three Elders livestock managers last night took a deeper dive via video interview into some of the main trends that emerged and the outlook for demand and prices from here.

Source: Beef Central
2021 weaner sales: ‘era of the female’ | online sales to stay | too much for one week?

XE Market Analysis: Asia – Jan 11, 2021

The Dollar rallied to three-week highs in early N.Y. trade, taking the DXY to 90.72, up from overnight lows of 90.03. The Greenback later pared gains, as Wall Street posted losses, albeit from record closing highs on Friday. USD price action has shifted since the middle of last week, as higher interest rates, and prospects for more stimulus have raised hopes for a much faster economic recovery, once vaccines become widespread. Previously, the USD’s safe-haven status had seen moves negatively correlated to the risk-backdrop.

Source: XE news feed
XE Market Analysis: Asia – Jan 11, 2021

XE Market Analysis: North America – Jan 11, 2021

The dollar has put in more rebound distance from the major-trend lows seen against the euro, yen, dollar bloc, and many other currencies a week ago. The U.S. currency has rallied on each trading day since the Georgia runoff elections, when it became clear that the Democrats would control the Senate. This has seen Treasury yields spike and growth expectations rise, given the implication for much greater fiscal spending than would have been the case under a Biden presidency constrained by a split Congress.

Source: XE news feed
XE Market Analysis: North America – Jan 11, 2021

XE Market Analysis: Europe – Jan 11, 2021

The dollar has continued to rise, putting in more distance from the major-trend lows seen against the euro, yen, dollar bloc, and many other currencies a week ago. The U.S. currency has rallied on each trading day since the Georgia runoff elections, when it became clear that the Democrats would control the Senate. This has seen Treasury yields spike and growth expectations rise, given the implication for much greater fiscal spending than would have been the case under a Biden presidency constrained by a split Congress.

Source: XE news feed
XE Market Analysis: Europe – Jan 11, 2021

Weaner heifers top 815c/kg, in quiet start for AuctionsPlus 2021 trading year

The first week of online cattle sales on AuctionsPlus for 2021 saw a smaller offering of 3837 head, with summer storms received across many regions over the Christmas/New Year period curbing numbers. In line with the past week’s weaner feature sales, young cattle sold to a very strong market, with a new AuctionsPlus heifer record set at 815c/kg.

Source: Beef Central
Weaner heifers top 815c/kg, in quiet start for AuctionsPlus 2021 trading year

XE Market Analysis: Asia – Jan 08, 2021

The Dollar continued to head higher in Friday afternoon trade, marking its third day of advances. The weaker jobs report took the USD to session lows, with nonfarm payrolls turning negative for the first time since April, though the jump in earnings offset to a degree, allowing the Greenback to recover. Later, the pullback on Wall Street from record highs was likely supportive, with the USD continuing to maintain its safe-haven status.

Source: XE news feed
XE Market Analysis: Asia – Jan 08, 2021

XE Market Analysis: North America – Jan 08, 2021

The dollar’s correlative pattern with stock markets has inverted, with the currency now rising in step with rallying global stock markets. The catalyst for the change was the Democrat wins in the Georgia runoff elections, which heralds the prospect of much greater deficit spending and warranting higher growth expectations for the U.S. economy. U.S. Treasury yields have also spiked more than peers, and much more so in the case against JCB and Bunds, which appears to have offset implications for lower real interest rates and real yields from an anticipated higher inflation curve.

Source: XE news feed
XE Market Analysis: North America – Jan 08, 2021

XE Market Analysis: Europe – Jan 08, 2021

The dollar’s correlative pattern with stock markets has inverted, with the currency now rising in step with rallying global stock markets. The catalyst for the change was the Democrat wins in the Georgia runoff elections, which heralds the prospect of much greater deficit spending and warranting higher growth expectations for the U.S. economy. U.S. Treasury yields have also spiked more than peers, and much more so in the case against JCG and Bunds, which appears to have offset implications for lower real interest rates and real yields from the anticipated higher inflation curve.

Source: XE news feed
XE Market Analysis: Europe – Jan 08, 2021

School children bake biscuits for pygmy possums devastated by last year's bushfires

When primary school students in the New South Wales Snowy Mountains heard about the devastation caused by the 2019-2020 bushfire season to the endangered mountain pygmy-possum, they put their chef hats on and quickly started cooking up a storm to help.

Source: ABC Livestock
School children bake biscuits for pygmy possums devastated by last year’s bushfires

XE Market Analysis: Asia – Jan 07, 2021

The Dollar rallied for the second day on Thursday, though the bulk of gains came ahead of the N.Y. open. Higher Treasury yields, and prospects for stronger U.S. growth in the coming months due to what will likely be ramped up spending by Democrats now that they are in charge, have driven the USD up since Wednesday. The DXY printed six-session highs of 89.97 in morning trade, up from early Asian lows of 89.35. Treasuries appear to be raising the red flag on the inflation outlook, while continuation of massive deficit funded stimulus at some point will have the opposite…

Source: XE news feed
XE Market Analysis: Asia – Jan 07, 2021

XE Market Analysis: North America – Jan 07, 2021

The dollar has rebounded out of the major-trend lows that were seen yesterday. The DXY dollar index posted a three-day high at 89.95, up from yesterday’s 33-month low at 89.21, while EUR-USD dropped over 0.5% to the mid 1.2200s while USD-JPY rallied to a nine-day high at 103.71. Markets have been discounting the upcoming Biden administration with Democrat control of both the House and Senate. The protests of Trump supporters at Capitol Hill also caused some concern. Together, they have prompted a modest rebound in the dollar.

Source: XE news feed
XE Market Analysis: North America – Jan 07, 2021

XE Market Analysis: Europe – Jan 07, 2021

The dollar has found a footing after posting fresh losses yesterday, despite risk appetite holding up in Asian markets and into European trading. The DXY dollar index has inched above 89.50 after yesterday posting a 33-month low at 89.21. Markets are digesting the largely unexpected outcome in the two Georgia runnoff elections, which were won by Democrat candidates. Prospects for a Democrat Presidency, House and Senate have greatly increased the prospect for much more fiscal stimulus than there would have been in the scenario of a split House.

Source: XE news feed
XE Market Analysis: Europe – Jan 07, 2021

Riverina Head Office – Change of address

The head office of Riverina (Australia) Pty Limited has moved to a new location on Friday 18th December 2020.

As of that date we have been in operation at our new premises, which is located at:

Riverina (Australia) Pty Limited
Level 9, 301 Coronation Drive
Milton QLD 4064

We have literally moved just next door to our previous premises. Please update your records to reflect this change. Our bank account, postal address and contact phone and fax numbers remain the same.

If you require a printable version of this statement for your records it is available here. If you have any questions, please contact us on 07 3007 6888.

Thank you for your ongoing support.

XE Market Analysis: Asia – Jan 06, 2021

The Dollar rallied in morning N.Y. trade on Wednesday, despite risk-on conditions. The prospect of further massive fiscal stimulus under a Democrat controlled government boosted Wall Street, and weighed heavily on Treasuries, taking yields sharply higher, and likely providing some support to the USD. Bigger picture, more stimulus and nascent inflation concerns will likely keep the Greenback under pressure in the coming weeks, while prospects for tax hikes and new regulation could weigh on the Dollar as well.

Source: XE news feed
XE Market Analysis: Asia – Jan 06, 2021

XE Market Analysis: North America – Jan 06, 2021

The dollar has tumbled to fresh major-trend lows as markets discount a possible Democrat sweep, with one of its Senate candidates, Warnock, having been declared winner in one of the two Georgia runoff elections, and the other, Ossoff, showing a slim lead in the vote count so far in the other election. Democrats need to win both to level the Senate at 50-50. Control would then swing to the Democrats due to the tiebreaker vote of Vice President-elect Kamala Harris.

Source: XE news feed
XE Market Analysis: North America – Jan 06, 2021

XE Market Analysis: Europe – Jan 06, 2021

The dollar has tumbled to fresh major-trend lows as markets discount a possible Democrat sweep, with one of its Senate candidates, Warnock, having been declared winner in one of the two Georgia runoff elections, and the other, Ossoff, showing a slim lead in the vote count so far in the other election. Democrats need to win both to level the Senate at 50-50. Control would then swing to the Democrats due to the tiebreaker vote of Vice President-elect Kamala Harris.

Source: XE news feed
XE Market Analysis: Europe – Jan 06, 2021

Global fertiliser price outlook positive news for Australian growers

Affordable fertiliser prices helped support Australian agricultural producers’ profits through the 2020/21 winter cropping season and a plentiful global fertiliser supply – along with a stable currency outlook – spells further good news, according to Rabobank.

Source: Grain Central
Global fertiliser price outlook positive news for Australian growers

XE Market Analysis: Asia – Jan 05, 2021

The Dollar came under modest pressure in N.Y. on Tuesday, with the safe-haven currency weighed down by a moderate risk-on backdrop. Wall Street headed higher, despite the uncertainty of Tuesday’s Georgia Senate runoff elections. A better than expected December manufacturing ISM helped the USD briefly, and aided stocks as well, though the sharply higher ISM prices paid component weighed on Treasuries, resulting in a bump up in yields as inflation concerns begin to take shape.

Source: XE news feed
XE Market Analysis: Asia – Jan 05, 2021

XE Market Analysis: North America – Jan 05, 2021

The dollar has been trading steadily so far today after yesterday rebounding quite sharply from 33-month lows. This has come amid a backdrop of sputtering stock markets, with narratives ascribing today’s two runoff elections in Georgia, which has existential implications for the incoming Biden administration (as the result will decide whether Democrats or Republicans will control the Senate), alongside the constant rise in positive Covid tests and associated restrictions, as providing excuse for markets to correct.

Source: XE news feed
XE Market Analysis: North America – Jan 05, 2021

XE Market Analysis: Europe – Jan 05, 2021

The dollar has been trading steadily so far today after yesterday rebounding quite sharply from 33-month lows. This has come amid a backdrop of sputtering stock markets, with narratives ascribing today’s two runoff elections in Georgia, which has existential implications for the incoming Biden administration (as the result will decide whether Democrats or Republicans will control the Senate), alongside the constant rise in positive Covid tests and associated restrictions, as providing excuse for markets to correct.

Source: XE news feed
XE Market Analysis: Europe – Jan 05, 2021

XE Market Analysis: Asia – Jan 04, 2021

The Dollar headed modestly higher in N.Y. on Monday, seeing the DXY recover from fresh 33-month lows of 89.42 to a high of 89.92. A sharp bout of risk-off supported the USD, as Wall Street started the year with sharp losses, driven by profit taking from record highs, spiking Covid cases, and angst ahead of Tuesday’s Senate run-off elections in Georgia. Data was light, though saw a bounce in the December Markit manufacturing PMI, and a solid November construction spending report, which were mildly supportive of the Greenback as well.[EUR, USD]

Source: XE news feed
XE Market Analysis: Asia – Jan 04, 2021

XE Market Analysis: North America – Jan 04, 2021

The dollar has started the new year where it left off last year, and that is with a softening bias. This comes against the backdrop of a coursing “everything rally”, with the MSCI Asia-Pacific equity indexand S&P 500 futures hitting record highs. Base metals and oil prices also rallied. The dollar itself is correlating inversely with this theme, with U.S.

Source: XE news feed
XE Market Analysis: North America – Jan 04, 2021

XE Market Analysis: Europe – Jan 04, 2021

The dollar has started the new year with a declining bias, which is of course where it left off last year. This comes against the backdrop of a coursing “everything rally”, with the MSCI Asia-Pacific equity indexand S&P 500 futures hitting record highs. Base metals and oil prices also rallied, and the main crypto currencies hit fresh record levels. The dollar itself is correlating inversely with this theme, with U.S.

Source: XE news feed
XE Market Analysis: Europe – Jan 04, 2021

XE Market Analysis: Asia – Dec 31, 2020

N.Y. FX trade was very quiet on the last day of the year, though the Dollar managed modest gains through the morning session. The DXY has made new trend lows of 89.52 in overnight Asian trade, though managed to rebound to 89.94 highs into the London close. The weekly jobless claims data likely helped USD sentiment to a degree, with both initial and continuing claims printing lower than expected outcomes. Wall Street traded either side of flat, while Treasury yields were little changed.[EUR, USD]

Source: XE news feed
XE Market Analysis: Asia – Dec 31, 2020

XE Market Analysis: North America – Dec 31, 2020

The DXY dollar index has posted another major-trend low, at 89.52, a level last traded in April 2018. The dollar has continued to correlate inversely with global stock market direction, with weakness today being concomitant with the MSCI Asia Pacific rising to a new record high in holiday-thinned conditions. The DJIA yesterday closed at a fresh record on Wall Street. European markets declined, however, while oil and other commodities have remained directionally subdued. EUR-USD remained buoyant on dollar weakness, although remained just off from yesterday’s near-33-month peak.

Source: XE news feed
XE Market Analysis: North America – Dec 31, 2020

XE Market Analysis: Asia – Dec 30, 2020

The Dollar was lower in N.Y. on Wednesday, seeing the DXY hit new 33-month lows of 89.56 early in the session, down from 90.02 after the close on Tuesday. The greenback later recovered modestly in light afternoon trade. Prospects for further fiscal stimulus weighed on the USD, while softer incoming data didn’t help either. The advance goods trade deficit for November ran up to its highest ever, while pending home sales fell short of expectations as well. The Chicago PMI was better than expected, which offset to a degree.

Source: XE news feed
XE Market Analysis: Asia – Dec 30, 2020

XE Market Analysis: North America – Dec 30, 2020

The DXY dollar index posted a new 32-month low at 89.68, while EUR-USD concurrently printed a 32-month high at 1.2295. USD-JPY saw a nine-day low, at 103.12. The pair’s near-10-month low, seen on December 17th, is at 102.88. The Australian and New Zealand dollars posted respective 30- and 32-month highs against their U.S. peer. AUD-JPY and NZD-JPY also saw new trend highs. The Canadian dollar also traded firmer, but remains comfortably below recent trend highs. Oil prices remain in a consolidation, below recent near-nine-month highs. Base metal prices also remain off recent trend highs.

Source: XE news feed
XE Market Analysis: North America – Dec 30, 2020

XE Market Analysis: Asia – Dec 29, 2020

The Dollar was lower in N.Y. on Tuesday, weighed down by the signing of the stimulus bill, and prospects for direct payments to individuals to rise to $2,000 from $600. The U.S. House voted to increase the amount of payments, while the Senate is expected to vote on the measure at some point on Tuesday or Wednesday. The DXY fell from overnight highs of 90.22, later bottoming at 89.86, before reclaiming the 90.00 handle. There was no top tier data to move markets. Wall Street opened on a stronger footing, though gave back gains through the session.

Source: XE news feed
XE Market Analysis: Asia – Dec 29, 2020