Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big Iron still firm as yuan sinks to new lows

Friday, 21 October 2016

The yuan is sinking to new lows again today as the US dollar charges on:

Nobody cares for now with sentiment for the inflation trade still high. But make no mistake, the falling yuan is massively deflationary, not least for bulk commodities and, soon enough we’ll all see it. Dalian has opened flat.

BHP is 0.5%, RIO -0.2% and FMG 2.4%:

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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.