Australian recession Commodities Global Macro

Mining GFC eases on oil surge

Friday, 29 January 2016

The Mining GFC took a well-earned break overnight as oil rumourtage doused some flames. The US dollar was weak as well following the Fed and a WSJ story revealing impediments to further easing by the ECB:

As said, oil took off again:

Though that did not do much for base metals:

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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.