O India, India! Wherefore art thou India?

O India, India! Wherefore art thou India?

Data or no data, the market makes its views known on Chinese growth, global equity and commodity markets universally lower, ASX futures 8 points lower after pre-empting much of the sell-off yesterday.

Just as the world’s finance ministers met in Cairns over the weekend and ‘agreed’ to lift global growth by an additional 2% over the next five years, the market has decided to give the suits a lesson on how the real world works. If only we traders and investors could agree to lift iron ore and other base metals prices at will, we’d have a lot less trouble on our hands than we do this week. Iron ore continued to fall to new medium-term lows (US$79.80 per tonne), nickel was walloped 4.21%, followed by falls in just about every metal and energy commodity t...

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