Yes people forget that a strong USD and weak BRL / AUD is the perfect cocktail for our earnings.
Of course it would be nice to see copper higher, but infact even though copper is down 10% in past 3 or 4 weeks the AUD is also down nearly 10% so the copper price in AUD has hardly changed, and yet our SP has been punished, dropping a whopping 20%. When you stand back and look at this equation the SP drop is a little overdone IMO. Just shows you how powerful sentiment is.
Owen and Kalenn and a few others keep reminding us of this, but its easy to get swept away with the negative copper price and forget what the currencies are doing at the same time.
AVB Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
