Australian dollar hangs on as iron ore flames out

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The Australian dollar is still hovering at the highs today:

XJO has stalled:

Bonds too:

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Dalian iron ore has flamed out:

But Big Iron hasn’t. FMG looks like it wants to charge the pre-GFC all-time high though it is still 50% higher. Perhaps RIO has a better chance with only 20% to go:

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Big Gas is up. The eastern arm appears oblivious to the Labor Mack truck bearing down:

Big Gold is still mixed:

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Big Banks have head and shoulders tops on their rebound:

Big Realty still hasn’t broken down. DHG action is as dodgy as its business:

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The mining boom is back big.

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.