15/08/2022 08:59

Currencies

The Greenback continues to slip lower in line with the softening of inflation fears while the $A is slowly gaining traction as recession fears dissipate, even if MM is correct and bond yields do have another attempt on the upside we now feel the $A has found or is looking for a low.

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01/08/2022 09:32

Australian Dollar ($A)

The $A has started to find some support as bond yields have reversed their 2022 gains on hopes that we won’t be entering a deep and painful recession, obviously, time will tell on this front but as we challenge the 70c area the markets slowly feeling like a coin toss and if our call for copper is correct the likelihood is the $A will have one more dip on the downside before offering a great buying opportunity.

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27/07/2022 09:41

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio slipped -0.68% last week with noticeable weakness from our Copper ETF (COPX US) -3.1% and European equities (VGK US) -2.9% positions, conversely support came from an improvement in our Australian Dollar (AUDS US) +4.2% and battery & lithium ETF (ACDC) +2% holdings.

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25/07/2022 09:07

Australian Dollar ($A)

The $A has endured a tough 2022 initially not embracing surging commodity prices unlike its fellow resource-facing currency The “Looney” Canadian Dollar but unfortunately, it has slipped lower as both the $US firmed and resources fell i.e. it embraced all the bad news while ignoring the good, never a good sign for any market. However short-term we believe the Aussie looks on course to bounce towards the 72c area in line with the general recovery in risk across equities.

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20/07/2022 09:37

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio rallied +0.98% last week aided by strong moves in our Uranium Trust (U-U CN) +8.8% and the $A (AUDS) +3.7% while the standout drag across the portfolio came from our gold ETF (MNRS) -3.7%.

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13/07/2022 09:44

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio fell -1.01% last week as recession fears continued to weigh on global markets, our BetaShares Aussie Dollar (AUDS) -5.7% and Asian Tech (ASIA) -3.1% ETF’s were the main drags on the portfolio while support was provided from the US Nasdaq (NDQ) +3% and Invesco Agricultural Fund (DBA) +2.5% ETF’s.

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04/07/2022 09:38

AUDUSD

The Australian Dollar has slipped to fresh multi-month lows on rising concerns around a looming recession i.e. the Australian & Canadian Dollar are largely regarded as commodities-based currencies. In line with our view on bond yields and the $US, we should see at least a decent bounce soon by the $A but it’s not delivered as of yet.

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27/06/2022 08:57

AUDUSD

No change, the Australian Dollar has drifted lower from its February 2021 high, the longer it can hover around the 70c area the better it feels considering the intensifying recession fears but for now the next few cents, either way, feels like a coin toss.

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20/06/2022 09:09

AUDUSD

The Australian Dollar has drifted lower from its February 2021 high, the longer it can hover around the 70c area the better it feels considering the intensifying recession fears but for now the next few cents, either way, feels like a coin toss.

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15/06/2022 09:35

Global Macro ETF Portfolio

The MM Global Macro ETF Portfolio slipped -4.2% last week with MM’s exposure to agriculture via the (DBA US) +2.7% and Asian Tech (ASIA) +0.8% our best performers while our positions in the Uranium Trust (U-U-CN) -13.3% and the Australian Dollar (AUDS) weighed on performance.

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