Goldman Sachs report on the struggling Australian dollar amid rising global equities ...Middle East

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Goldman Sachs on the Australia dollar, in a report titled "AUD: Working hard, hardly working". GS analysts say it should be a lot higher than it is.GS says AUD is (or least has long been) a 'high beta" currency, that is its tends to rise with 'risk', such as global equity markets, and fall if risk falls. But note that while the S&P 500 (GS use this as a proxy for global equity sentiment) is soaring, hitting record highs, AUD is languishing. "With recent AUD weakness in the face of record S&P highs, AUD’s equity beta hardly seems to be "working." Since the start of the year, we have seen AUD underperformance relative to our BEER model implied returns" GS point the finger of blame at:global cu

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Last updated : 09 February 2024 clock 12:56 AM

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Goldman Sachs report on the struggling Australian dollar amid rising global equities ...Middle East

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