The dollar continues to head lower as U.S economic data supported expectations that the Fed may cut interest rates early next year. The data at best was mixed as US Oct Durable Goods fell by -8.3% vs. exp -5.0%, Consumer confidence 102.9 vs. exp 105.8 and existing home sales +0.5%. Whilst the home sales figure was better than expected it is unlikely that it is going to shake off expectations for a rate cut at the end of the first quarter of next year. The dollar managed to claw back some losses following Fed Chairman Bernanke comments that U.S core inflation is likely to moderate gradually but that risks remain to the upside.

AUD continues to trade with a firm tone rallying to 0.7842, largely bolstered by poor U.S data. AUD managed to push through option strikes at 0.7825 but option defence of 0.7850 barriers stalled any further gains.

OECD forecasts that Australia could cut rates in 2007 had little impact, with the AUD still underpinned by yield spreads as US bond yields continue to fall. A break of 0.7850 will target 0.7880/0.7920 in the coming sessions. The market will continue to view dips as buying opportunities. Today, local event risk will centre on the release of Australian Oct trade data with ANZ forecasting a deficit of 1.2 bln. A smaller deficit could help underpin this current rally. Overall, whilst the rally is set to continue one must proceed with caution as a bout of profit taking could be around the corner. Expected range 0.7810/50.

Overnight range 0.7778/0.7842.

Our company can offer some Alpaca top as follows,

 

type: Alpaca top

specification: FS 26-27mic, B 100

quantity: 1*20FCL

price: 17usd/kg FOB  on 18.25% regain

L/C at sight, Prompt shipment

 

 

If you have any interest for any wool and wool textile materials, please hesitate to contact to me.

 

Contact person: Jiang Chen

TEL:0086-25-83615990

FAX:0086-25-83367394

E-MAIL:ctrncw@public1.ptt.js.cn

 

 

SELF-COMBED AUSTRALIAN WOOL TOP
TYPE	MC/MMH	USD/KG
110S	15.5MIC/62HMM	17.55
100S	16.5MIC/63HMM	13.40
90S	17.5MIC/65HMM	11.20
80S	18.5MIC/66HMM	10.30
70S	19.5MIC/68HMM	9.65
66S	21.0MIC/70-75HMM	8.25
64S	22.6MIC/72-75HMM	8.05
60S	24.0MIC/74HMM	7.25
58S	26.8MIC/76HMM	5.50
56S	28.8MIC/75HMM	4.70
FOB PRICE, JUANUARY/FEBUARY SHIPMENT, SUBJECT TO OUR FINAL CONFIRMATION
TEL:0086-25-83615990/83618753            FAX:0086-25-83367394 CONTACT PERSON: JIANG CHEN MOBIL:0086-13805187696

China Textile Resources Nanjing Corporation is a resident enterprise for resources circulation in Nanjing by China Textile Resources Corporation. China Textile Resources Corporation is directly under State-owned Assets Supervision and Administration Commission of the State Council, China (original the ministry of Textile Industry) and ranks 24^th at the largest 500 enterprises of resources circulation in China. China Textile Resources Nanjing Corporation has a volume of operation over RMB400,000,000 every year; it is one of the enterprises with stronger strength and covering scale of market in the trade of circulation of China textile resources.

 

The aim of company: to act in accordance with state’s general and specific policies, face textile trade, develop resources, ensure production, invigorate circulation, make things convenient for enterprise, serve production and insist on doing prestige first, quality first and service first.

 

The main scope of business of the company: import trade of wool, entrustment and agency of Import and export business, raw materials for textiles, textile equipment, dyestuff and chemical materials for textiles storage and transport, technical consultation service and so on. The mode of business: wholesales, retails, agency purchases and marketing, supplying storage and transport as well as technical consultation.

 

Departments set up under the company: Office of General Manager, Integrated Department, Financial Department, Wool Department, Export Department, Chemical Fiber Department, Trade Department, Nanjing Wool Market, Warehouse and so on.

 

The company has the import and export rights and a large number of businessmen with skilled professional knowledge. The company manages more than 15,000 tons of wool every year and has a long cooperative history with business partners from Australia, New Zealand, Uruguay, UK, USA, Italy and some other countries.

 

The company has Nanjing Wool Market jointly arranged by the original Ministry of Textile Industry and the Ministry of Agriculture, It can engaged in wool business, agency by agreement and direct transaction. It carries on the Australian, New Zealand, Uruguay greasy wool and domestic wool Auction several times every year. The “information of Nanjing Wool Market” issued weekly is an information for textile raw materials to serve the national wool spinning trade, animal husbandry and commercial system. It comes into contract with more than ten foreign commercial organs of the Woolmark Company, Wools of New Zealand. In China regularly supplying the information of the Wool Market of Australia and the Wool Market of New Zealand as well as the quoted price for external wool of the foreign commercial organs to the great majority of subscribers. At same time the wool market transmits in time and accurately the up-to-date information of supply and demand in domestic market. Recently, the wool quoted price publicly offered to the external market by Xinhua News Agency, China Textile Newspaper, Textile Information Center and Light Industrial Textiles News paper are provided by Nanjing Wool Market. Since the establishment of the information magazine, it enjoyed a high reputation in the wool industry circles at home and abroad with the superiority of strong specialization, large source of information, wide service scope and great opportunity of closing a deal.

 

The Nanjing corporation also has a largest modern wool warehouse jointly built by the original Ministry of Textile Industry of China and the original Wool Committee of Australia. The warehouse is situated in the bonded area of the Yangtse River’s first large inland river port---Nanjing Xinshengwei Foreign Trade Port that is very convenient for its shipping, river transport, railway and highway communications and transportation. The land area of the warehouse region is 70,000 square meters, the main warehouse’s area is 21,000 square meters and it can keep 15,000 tons of wool in storage at one time. There are advanced installations and complete function in the warehouse, the echanized operating rate for storage and transport has reached 95%.Upon the approval of Nanjing Customs, the company established the first bonded warehouse for textile resources of Jiangsu Province in 1989 and created the conditions for further developing foreign-oriented economy.