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BetaShares Strong Australian Dollar ETF (AUDS)

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MM remains bullish the $A into 2022

OPINION

The Australian Dollar ($A)

The “Aussie” has started to regain its mojo over recent weeks enjoying a broad-based resurgence in the commodities market although the influential iron ore market is tempering the enthusiasm for the local currency i.e. the Canadian Dollar (referred to by professional traders as the Loonie) has bounced noticeably harder due to its lack of dependency on the bulk commodity.

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The Australian Dollar

In line with our outlook for the $US and resources MM is bullish the Australian Dollar which hopefully will coincide with many subscribers enjoying some overseas travel as the world reopens into 2022. We find it very encouraging that the local currency didn’t make fresh 2021 lows in recent weeks even as the $US rallied – we’re still targeting a break of 80c into 2022.

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Currencies

The $A is finding some teeth just as many of us are again contemplating overseas holidays, a relief to many who have already seen their overseas spending money fall by ~10% in 2021. At MM we are bullish the $A looking for a solid breach of 80c in the coming years however short term another test of 70c feels like a ~30% possibility, a similar feel to bond yields over the coming weeks.

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Chart of the Week

As most of us know the Aussie Dollar along with copper is largely regarded as the perfect proxy for growth and over the last fortnight it’s rallied strongly embracing Gladys  vaccine led reopening strategy although weakness in the $US has certainly assisted the move. We remain bullish the $A into 2022 targeting the 85-90c area and our “Gut Feel” is the local currency...

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The Australian Dollar

The Aussie along with copper is largely regarded as the perfect proxy for global growth and in-line with bond yields and the $US it bounced strongly last week. Our view is consistent here, we are looking for an eventual test of 90c in 2022 but whether we’ve now seen the bottom of its pullback from ~80c is still 50-50.

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The AUD

The Aussie has slowed its decent from the 80c region although there are no clear signs of a low yet, our preferred scenario remains we see a base ~70c before another leg higher towards 90c in line with our reflation view but this is likely to take a few years assuming we are correct, hopefully just in time for some post COVID overseas holidays!

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The Australian Dollar

The Aussie is the perfect proxy for global growth as our economy is so dependent on the Resources Sector e.g. In Q2 iron ore alone made up over 40% of Australia’s merchandise exports. Not surprisingly the $A has corrected over 10% in recent months but we are now looking for an important low in the coming month (s) before a rally towards ~90c...

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Currencies

The $US appears to be getting a safety bid this week as the coronavirus picture deteriorates with the largely regarded recovery proxy the “Aussie” falling to fresh lows for 2021. At MM we are looking for a time to fade this migration away from the recovery / reflation trade and a test of our targeted 70c area by the $A will certainly put us on notice that a turnaround in sentiment could be close at hand.

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Australian Dollar (AUDUSD) 73.72c

The Australian Dollar is often, along with copper, used as a gauge for future economic strength - over recent months the $A has fallen in-line with bond yields and economic confidence following the emergence of the delta strain.

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Australian Dollar (AUDUSD)

Unfortunately the $A has continued to underperform most major currencies, we still see it hovering between 70c and 80c for the rest of 2021 with a low likely to form when bond yields bottom and economic optimism returns which is likely to be fairly soon if MM is correct.

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ACTION

AUDS
UPDATED 18/10/2021 17:27
MM remains bullish the $A into 2022
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AUDS
UPDATED 05/10/2021 16:54
MM’s is bullish the $A into 2022
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AUDS
UPDATED 14/09/2021 09:18
MM’s is bullish the $A medium-term
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AUDS
UPDATED 06/09/2021 10:04
MM’s is bullish the $A medium-term
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AUDS
UPDATED 31/08/2021 09:22
MM’s is bullish the $A medium-term
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AUDS
UPDATED 30/08/2021 08:57
MM believes the $A is looking for a low
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AUDS
UPDATED 24/08/2021 16:34
MM is bearish the AUD short-term
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AUDS
UPDATED 19/08/2021 09:14
MM is bullish the $A around 70c
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AUDS
UPDATED 30/07/2021 09:06
MM is now bullish the $A medium-term
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AUDS
UPDATED 26/07/2021 16:59
MM is currently neutral the $A short-term
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ETF providing leveraged exposure to AUD

BetaShares Strong Australian Dollar Hedge Fund ETF (AUDS) is an exchange-traded fund incorporated in Australia. The investment objective of the Fund is to provide Unit holders with geared exposure to the change in value of the Australian Dollar relative to the U.S. Dollar (i.e. it aims to provide a magnified “long” exposure to the value of the Australian Dollar relative to the U.S. Dollar).

The ETF is listed on the ASX under code AUDS

For more information – Click here to go to the ETF information page

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The Australian Dollar ($A)
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The Australian Dollar
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Australian Dollar ($A)
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The Australian Dollar
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The Australian Dollar
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Australian Dollar (AUDUSD)
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The Australian Dollar
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The $A (AUDUSD)
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Australian Dollar ($A)
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Australian Dollar (AUDUSD)
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The Australian Dollar $A
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Australian Dollar (AUDUSD)
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The Australian Dollar $A
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Australian Dollar (AUDUSD)
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The Australian Dollar
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Australian Dollar (AUDUSD)
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The Australian Dollar ($A)
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The Australian Dollar ($A)
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BetaShares Strong AUD ETF (AUDS)
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The Australian Dollar ($A)
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The Australian Dollar
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Australian Dollar ($A)
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Australian Dollar ($A)
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The Australian Dollar ($A)
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The Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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Australian Dollar ($A)
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