💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

UPDATE 1-El Nino near peak intensity, some signs of easing - Australia

Published 08/12/2015, 05:46 pm
Updated 08/12/2015, 05:50 pm
UPDATE 1-El Nino near peak intensity, some signs of easing - Australia

(Adds details)

By Colin Packham

SYDNEY, Dec 8 (Reuters) - The current El Nino weather event is near its peak intensity and likely to persist well into 2016, but some indicators are showing signs of easing, Australia's weather bureau said on Tuesday.

Sea surface temperatures in the Pacific Ocean remain close to record levels, the bureau said, and the 2015/16 El Nino will be the one of the three strongest events in the past 50 years.

The Australian assessment is in line with the U.S. National Oceanic and Atmospheric Administration, which last week said sea surface temperatures in a key region were at the strongest since 1997.

The bureau said there were some signs of easing. The Southern Oscillation Index, which measures sea level pressure differences, has eased back into neutral values in recent weeks, it said.

The trade winds have also returned to more normal ranges and sub-surface sea temperatures have cooled slightly.

However, it said the current El Nino was strong and would continue well into the southern hemisphere autumn.

El Niño, the "little boy", is driven by warm surface water in the eastern Pacific Ocean, and can bring heavy rains and flooding to parts of the Americas and drought to eastern Australia and parts of Asia.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.