"Commodities Index -2.52%. Energy -3.23%. Base Metals -2%. Agriculture -0.55%. Gold -2.5%.
BHP in NY -0.7%, Rio in NY -0.59%
None of this is looking good for the XJO on Monday."
No, no, no, no, no, no, NO!
BHP (NYSE) -0.7%
BHP (ASX) +0.6%
RIO (NYSE) -0.6%
RIO (ASX) +0.9%
Woodside (Nasdaq) -0.3%
Woodside (ASX) +1.2%
WHY!
The revenues of all of the above companies are in USD
Better than expected jobs data in the US on Friday, sparked further inflation fear, resulting in higher US bond yields and the appreciation of the USD against all major currencies (including the AUD)
All of the above companies earn all their revenues in USD. Therefore from an Australian investors' perspective BHP's cashflows are now much more valuable. Last week your BHP dividend bought one coffee, today it buys you one coffee AND ONE ANZAC BISCUIT.
@Whalewatcher
Is BHP The Big Australian or The Big American?
Its both.
Same as VGS
SP500 down, ASX 200 down, VGS up (Those Apple shares are worth as much as they did before the jobs data plus ONE ANZAC BISCUIT.
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