It has been for quite a while, especially since the GFC, the strength of AUD versus USD has been showing a positive correlation with the equity market performance.
With HFA assets primarily being US assets, the exchange rate has been a huge negative to HFA share price. This probably explains in part why US institutional investors have been increasing their holdings - the lower share price is well offset by the gains in exchange rate.
Now, I see signs the fortune of USD is about to change, thanks to recognition by the market of the strengthening of the US recovery. Overnight, USD vs Yen has shot up 2.5% on the back of positive employment data and gains in the equity market. A stronger USD versus AUD is better for HFA share price.
I hold. Hopefully patience pays off.
fortune to turn
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Last
$1.86 |
Change
0.010(0.54%) |
Mkt cap ! $908.8M | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.86 | $1.83 | $483.7K | 262.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2078 | $1.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.87 | 2078 | 1 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| NGI (ASX) Chart |