Curtis Wool Direct

Latest Wool Trading News - April 2020

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We apologise for a reduced woolnews edition this month but we do not want to rejuvenate any more bad news articles when you are no doubt seeing them from your local sources. So, looking ahead it is well accepted that the textile industry is usually one of the first to feel the brunt of any economic downturn – but it is also a first to recover and benefit from the recovery. Wool is actually still selling, at least in ...

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AWI Commentary (27 March 2020)

Australian wool auctions produced a radical change in sentiment this week and thankfully for the better. Massive buyer support from Australia’s largest trading house competed heavily against robust Chinese indent purchasing. The result was the chaos of last week has been halted for the time being. All this positivity came in the face of a much stronger Australian dollar (AUD) versus the US Dollar which would normally...

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China’s talks up economic growth prospects

China’s major economic indicators are expected to rebound sharply in the second quarter, according to report printed in South China Morning Post. A senior central bank official said on Sunday, after the nation’s premier said earlier that the government will do all it can to ensure small businesses survive the recent downturn. Chen Yulu, a deputy governor at the People’s Bank of China,  said that based on the central ...

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Wool auctions suspended in South Africa

On 23 March 2020 President Cyril Ramaphosa announced a 21-day lock down period over the continuing spread of the Corona Virus.   Although the export of wool had not been affected until yesterday, the announcement by President Ramaphosa has changed the entire trading environment.   SAWAMBA and the brokers met this morning to discuss the implications of the lockdown on the wool industry and it was agreed that, however ...

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Challenges of the world economy in 2020

Euromonitor International, economic think-tank based in London UK has cut its growth forecasts of the world economy by 2020 by 0.1 points and 0.3 points due to the outbreak of the coronavirus.   The world economy hurts. A growth of 1.4% for advanced economies and an increase of 4.2% for emerging countries. These are according to Euromonitor, the forecasts for the world economy in 2020, which is marked by three risk f...

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