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Yuan, big iron plunge again

Wednesday 16 November 2016

The yuan has hit another new low today as the Chinese appear to to want to get their devaluation done before Trump’s inauguration:

Dalian coking coal futures are soft and iron ore is still limit down but I think it’s from yesterday:

Big Iron down sharply with BHP -2.4%, RIO -2.6% and FMG – 3.2%. WHC is flat after being down 7% earlier:

Big Gas is riding the OPEC thermal with WPL 3%, OSH 4.3%, ORG 2.2% and STO 2%:

Big Gold is bouncing too with NCM 3.2%, RRL 4.2%, IGO flat, SBM 5.5% and EVN 3.5%:

Big Debt is up 1%:

Big Spruik is still sagging with REA -3%, reviled FXJ -1%, MEA flat and MGR -1%:

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.