Australian banks Australian LNG Australian Shares Commodities Iron ore price

BOJ pain trade drives big iron, gas higher

Friday, 29 April 2016

Big iron ore and gas are off to the races again today as Dalian keeps surging (up another four points during the day from overnight gains) and the USD keeps falling:

The culprit is easy to find with yen breaking out:

Which is enabling China to appreciate the yuan as well:

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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.