Assuming $US strength is about to unfold we would usually anticipate that commodity prices struggle, just as we saw on Friday simply because they are priced in $US, however if the FX move is based on an economic recovery declines are likely to be less dramatic. Conversely we must remain mindful that the likes of copper have more than doubled since March 2020 on the combination of a weak $US and a strong post COVID economic recovery fuelled by enormous stimulus which by definition leaves room for “washouts” to the downside.
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
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Friday 19th April – DOW up 22pts, SPI down -55pts
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MM remains a keen buyer of copper exposure ~8-10% lower
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Performance update for March, stocks that drove returns & our current positioning
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Fri 19th April – ASC200 -117pts, Pilbara (PLS), Whitehaven (WHC) & Woodside (WDS)
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Market Matters Research Lead Shawn Hickman with David Koch
Recorded Monday 25th March
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Friday 19th April – DOW up 22pts, SPI down -55pts
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