The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Tuesday, October 4, 2011

RBA: Aussie commodity prices up 2% in September in AUD terms (1% in SDR)

Despite the turmoil, the RBA reports that the prices of Australia's key exports continue to rise:

"Preliminary estimates for September indicate that the index rose by 1.0 per cent (on a monthly average basis) in SDR terms, after rising by 0.3 per cent in August (revised). The largest contributors to the rise in September were increases in the estimated export prices of iron ore and thermal coal. Despite declining over recent weeks, crude oil and gold prices also rose in monthly average terms, while the prices of base metals and most rural commodities declined in the month. In Australian dollar terms, the index rose by 1.9 per cent in September. Over the past year, the index has risen by 27 per cent in SDR terms. Much of this rise has been due to increases in iron ore, coking coal and thermal coal export prices. Reflecting the earlier appreciation of the exchange rate, the index has risen by 20 per cent in Australian dollar terms over the past year. As indicated in previous releases, preliminary estimates for iron ore, coking coal and thermal coal export prices are being used for recent months, based on market information."