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Commodities Weekly: A bout of volatility returns to financial markets

  • Late last week we got a timely reminder that market sentiment and the pace of the recovery from the COVID-19 pandemic is not a sure thing.
  • The ASB Commodity Price Index dipped in all denominations last week, but a lower NZD cushioned the decline when measured in NZD terms.
  • Meanwhile, prices moved in the right direction at this week’s Global Dairy Trade event.

 

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Nathan Penny

Senior Rural Economist

Nathan's bold predictions and his ability to call it as he sees it sets him apart from other New Zealand rural economists.  In particular, his controversial, but ultimately successful $6.00/kg MS 2016/17 milk price forecast is case in point.

He has a natural talent to distil complex issues and translate them into user-friendly formats for diverse groups, including farmers and financial markets participants.  Nathan brings unique perspectives and thought leadership to the country's rural and broader export sectors.  

Nathan joined ASB as the Rural Economist in 2013, having cut his teeth at the New Zealand Treasury.  He hails from the Kapiti Coast and studied at Massey University where he graduated with a Master of Applied Economics.

Nathan's expertise lie in dairy and other commodity markets, trade economics and economic forecasting.  He's a leading GlobalDairyTrade auction and NZX dairy derivatives commentator and he also authors ASB's monthly rural publication, Farmshed Economics.  

He's a proud Hurricanes and Wellington Phoenix fan, and will gladly discuss at length the Hurricanes Super Rugby 2016 victory.