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Dollars where they flowing.
Will billions of foreign money flowing into Australian investments but -- just reiterated that it might give a ratings cut.
To the triple A rated country.
They're very future -- hit countries left anti war but Australia's one of them so here's the question how about their currency is investing in the Aussie dollar and a guy whose company recently launched two Australian ETFs he's here to tell us why he's still very bullish -- It's a Fox Business exclusive from Columbus, Ohio -- shares head of capital markets.
Stephen Sachs does it's scary off but all lit up Moody's says is waiting a little flag -- little red -- saying wait a minute watch out.
You know it really doesn't they've actually been waving that -- for a couple years now.
The first negative watch that Moody's put on Australia.
Dates back to actually to when he ten and they simply reiterated there -- negative view on particularly the state of Victoria.
Which you know rightfully so this trillion dollars been obviously very strong in the last couple months and basically since.
The first of June in this state of Victoria gets a lot of its -- business activity from one tourism into manufacturing.
Which a stronger dollar for them a stronger Australian dollar for them.
We'll certainly dampen some of that activity.
I wanna get to your brand new ETFs that you've launched so that people can see that there's an opportunity to play this perhaps without.
Doing all the research to find individual stocks you've got -- pro shares ultra Australian dollar I love the ticker symbol good day.
Which is how they say good morning ultra short Australian dollar and that ticker symbol is frock which I thought -- -- about but -- it.
You know we'll tell us about these two and why you feel there opportunities for people to at least half a portion of their portfolio in Australia.
Yeah absolutely these two products we recently launched in the middle of July.
And as you mentioned today GD -- -- its approach errors all try Australian dollar.
And its objective is to deliver two times the daily return of the Australian dollar vs the US dollar.
-- on the other hand as the inverse of that it's the two times.
The short of the Australian dollar vs the US dollar so right you've got ultimately to products that you can play either side of the currency.
Use them to gain exposure to the currency use them for hedging tools relative to other instruments or other investments you may have in your portfolio.
And the idea was really very simple as we are rounding out our our suite of currency products approach shares -- we wanted to give.
Investors and institutional investors an opportunity to use ETFs to you know gain exposure to the Aussie dollar with a with a leverage factor and.
Do you say to people who say that the Australian economy is too tightly tied to natural resources.
While I would say they're absolutely right it really is and then they're one of the key drivers right now of the Australian economy story and that's the Australian dollar story is the commodity play and is the tie in particular to the growth that we're seeing.
Not -- -- globally but China in particular you know you'll hear that a lot of the Australian economy is very tied to -- growth in China and it is they're really are.
You know focus on commodities particularly in the metals space iron ore coal copper things of that nature.
So when you're looking at investments you know an Australian I think the Australian dollar as well.
Those are major factors that you certainly need to keep in mind Stephen nice to see it thank you for being here.
Happy to be here thank you very much -- black guy it's.
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