Australian banks Australian Dollar Australian LNG Australian Shares Commodities Iron ore price

Big iron, Aussie dollar enter melt up

Tuesday 19 April 2016

So much for rebalancing! It’s back to China with a dirt bullet as the Aussie dollar surges towards 78 cents:

Driven by wild iron with Dalian already adding 2% to its overnight gains and triggering panic buying in miners with BHP up 4.7%, RIO 3% and FMG 5.3% with all three breaking to new bear market highs:

LNG has caught the fever with WPL 3.3%, OSH 5%, STO 3%, ORG 6% and LNG -9%:

Banks too are up nicely with CBA 1.2%, WBC 1.2%, NAB 2.5%, ANZ 1.8%, BOQ 1.7%, SUN 1.4%, BEN 2%, MQG 3.3%:

Even McGrath is surging:

China and Straya are fixed!

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.