Australian recessionCommoditiesGlobal Macro

Mining GFC doused!

David Llewellyn-Smith
Tuesday, 16 February 2016
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The short squeeze in oil and moar from Mario Draghi jawboning has again doused the Mining GFC. Both sent the US dollar higher as the euro cratered:

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From the FT:

Mario Draghi said the European Central Bank was “ready to do its part” to make the eurozone more resilient, in the latest indication that it could unveil further stimulus measures next month.

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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.