Australian recession Commodities Global Macro

RBA sets Mining GFC ablaze

Wednesday 4 May 2016

The RBA rate cut, the soft Chines PMIs and Europe downgrading its own growth outlook were enough to end the Mining GFC bear market rally last night. The US dollar roared back as risk capitulated:

Yen and euro roared then fell:

Commodity currencies were hammered:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.