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USD reverses, dirt sells

Monday, 28 November 2016

The rocket-fueled USD has finally reversed in Asia today as OPEC doubts hit inflation hopes. Dalian is till up 3% but big iron is struggling with BHP -2.2%, RIO -1%, FMG flat and WHC 0.2%:

Big Gas is off harder with oil with WPL -2.4%, OSH -2.3%, ORG -0.8% and STO -2.7%:

I still reckon OPEC will cut and so does the market on those minor falls.

Big Gold is enjoying the reprieve with NCM 0.4%, RRL 4%, SBM 2% IGO flat and EVN 1.8%:

Big Debt is down -1%:

Big Spruik more:

Technical pull back for mine.

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.