Echoes of the Mining GFC

Thursday, 3 May 2018

DXY flew higher last night as EUR tanked. I reckon there’s another 5% in this move for both as the mad EUR long unwinds:

AUD held on against DMs:

EMs are breaking:

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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.