Cheap Australia and commodities

I think the UDUSD should hold around the 0.6460 region, thus USD buyers of Australian assets would be well advised to strike their transaction terms soon.

In turn, this renders AUD priced assets as being the cheapest since November 2022

This drop of a further penny or so, should correspond with an Iron Ore price visiting between the $92 – $98 mark.

It’s currently trading at $103.

and perhaps a price in BHP around A$43.35 although I prefer A$39.60.

August 8, 2023

by Rob Zdravevski

rob@karriasset.com.au