Perhaps markets are on a 24 hour delay switch because they are starting to react to the dreadful Chinese data. The Aussie is selling today and iron ore futures opened at a record low of 657 yuan before rebounding to 660 now, down 4 points. Rebar futures are down half percent as well.
The big miners are all taking a shellacking too though for some reason markets are bidding small miners on the presumption that they are going to be acquired, even though they have no business model.
Moreover, via Forexlive, the People’s Bank of China (PBOC) is having none of it!
