Australian banks Australian LNG Australian Shares Gold Iron ore price

Futures unimpressed with Chinese supply cuts

David Llewellyn-Smith

Monday 6 March 2017

Dalian is open and off a couple of percent:

Coking coal is up a touch.

Big Iron is happier, I guess the market feared less action:

Big Gas is treading water:

Big Gold has gotten little reprieve from the USD bashing. Jawboning cannot outweigh macro in the long run

Banks have rebounded but the big driver of the rally is coughing as the US yield curve has flattened materially with earlier Fed hikes. If you’re long, taking some profits here is not a bad idea:

Big Spruik is firming with the execrable FXJ going ex-dividend:

Not a lot of joy for dirt there.

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.