Australian recession Commodities Global Macro

Mining GFC morphs into Buy Australia!

Wednesday 20 April 2016

The combined efforts of the Federal Reserve caution, OPEC jawboning and a moderate Chinese stimulus have morphed the Mining GFC into Buy Australia! with both hands. Witness today, the US dollar was weak:

Other majors went nowhere:

Commodity currencies roared:

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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.