RBA: Commodities jump 10.2% in November
Initial data compiled by the Reserve Bank of Australia took its commodity index 10.2% higher last month, compared to a rise of 8.4% in October. The measure, calculated on the basis of market prices and special drawing rights (SDRs), climbed 32.1% in the past year, said the report, which was published on Thursday. The increase was driven by coking coal and iron ore. The yearly rise in October was 15.27%.
In Australian dollar terms, the indicator also jumped 10.2% from the previous month and 24% against the level from one year before. The SDR-based index advanced 15.6% in November alone and 61.9% on an annual scale when calculated according to bulk prices.
In United States dollars, the gauge rallied 9.07% in November, 2.09 more than in the previous month. Its yearly surge of 30.6% came after an increase of just 13.14% in October, as the currency significantly firmed.