Tuesday, October 10, 2006

Quick Overview

  • Machinery orders in Japan were up 6.7% in August, less than expected.

  • (Bloomberg) -- The Bank of Japan will probably keep interest rates unchanged at a policy meeting this week, judging that gains in consumer prices are not yet sufficient to warrant raising the lowest borrowing costs among major economies.

  • The world continues to be surprised by the significance of Australia's parched wheat fields that will yield only a fraction of last year's production. There is talk that Australia may have to purchase wheat to meet commitments. Argentina is also suffering dry conditions.

  • The International Copper Study Group said that world copper production exceeded usage in the first half of 2006 by 13,000 tons.

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