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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, a call in line with our reflation outlook.

MM is bearish the AUD short-term
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The Australian Dollar
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