ANZ Commodity Price index for October
+6.9% m/m after the prior month's 5.5% gain
Dairy prices have rebounded (which reminds me, Its a GDT auction during London time today ... pruices are expected to fall a little, but I'll do more of a preview soon)
ANZ comments:
- "A slow start to the New Zealand milk production season, an El Nino premium, bargain hunting from buyers, some natural recoil of extreme lows and restricted whole milk powder supply through the GDT platform appear the main drivers"
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NZD not doing much, its just off session highs after a slowish sort of grind higher so far this morning