Whatever you may think I can't change that. If you have ability to draw larger picture for the time ahead it wouldn't take much time for you to figure out that iron ore is only the driver at this stage to save AUD. It would have dropped down to a significant level around 50 c and BHP shares would have dropped too!
If Iron ore demand wanes in the period ahead due to Corona virus situation around the globe as stated earlier Australia's budget deficits would be very large and surplus would look bleak to be achieved that would adversely affect AUD. Lower AUD would discourage investments due to larger project costs that would mean projects deemed essential would proceed and non-essential project wouldn't be attractive for economic reasons.
So, better think economic challenges now that would affect every segment of the Australian society in the future.
BHP Price at posting:
$27.01 Sentiment: Sell Disclosure: Not Held
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