0009 GMT - The strengthening Aussie dollar is a bigger threat to the economy than stocks, says Macquarie while contending the selloff in offshore-exposed shares has been overdone. The investment bank says the currency strength has mainly been due to the greenback's weakness. A weaker Aussie had been a reasonable tailwind for offshore industrial stocks, but the main game was their exposure to faster-growing markets and M&A opportunities.
Those Macquarie thinks are oversold include Aristocrat (ALL.AU), James Hardie (JHX.AU) and QBE Insurance (QBE.AU). ([email protected]; @RobbMStewart)
(END) Dow Jones Newswires
August 02, 2017 20:09 ET (00:09 GMT)
You can see how over sold this was clicking into the $19 range ... Aud down over night slightly..
0009 GMT - The strengthening Aussie dollar is a bigger threat to...
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Last
$67.87 |
Change
0.170(0.25%) |
Mkt cap ! $36.16B | |||
| Open | High | Low | Value | Volume |
| $67.89 | $68.30 | $67.43 | $47.77M | 704.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4131 | $67.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $67.88 | 363 | 1 |
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