Australian banks Australian LNG Australian Shares Commodities Gold Iron ore price

Big Dirt sinks as risk gets the shakes

Thursday, 13 October 2016

Big Iron is off sharply as the US dollar rampages through Asia and S&P futures fall sharply even though Dalian futures are up three points again. BHP is -2.4%, RIO -2.2% and FMG -1.6%:

Big Gas likewise is down with WPL -1.2%, OSH -3.4%, ORG -1.5% and STO -2.6% as oil fades a little:

Big Gold is hanging on with NCM 1.0%, RRL 2.5%, IGO 1.5%, SBM flat and EVN 2.8%:

I still think there’s another leg down in prospect.

Banks are taking it in the team with CBA -0.7%, WBC -1.4%, ANZ -1.4% and NAB -0.9%:

Nobody likes a rising US dollar!

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.