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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Buy Hold Sell: The best and worst performers of FY25
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Friday 4th July – Dow up +344pts, SPI up +27pts
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Thursday 3rd July – ASX -42pts, PME, NWH, GLF
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MM is bullish the $A around 70c
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