Over the last 2-years the correlation between the $A and the resources Index has been extremely tight, but unfortunately there’s no clear leading indicator between the two. However, as we just looked at, MM is bullish towards the $A into 2027, which is a great read-through for the miners et al. By simple extrapolation, “if” we are correct and the $A is headed for the 75-76c area, the resources index could enjoy another ~20% leg to the upside.
- We are bullish on the ASX miners looking for at least +15% upside from current levels.
MM is bullish towards the ASX200 Resources Sector
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Australian Dollar ($A) v ASX200 Resources Index – Source Bloomberg
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Australian Dollar ($A) v ASX200 Resources Index – Source Bloomberg
