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AUD: iron ore isn’t the whole story – TDS

Analysts at TD Securities explained that with a slowdown in China seen to be dampening the outlook for Australia in 2019, they have examined the impact that iron ore has on the economic landscape.

Key Quotes:

“Infrastructure spending and accelerating LNG exports are supporting growth, such that the economy is less dependent on the fortunes of iron ore, house prices and consumer spending than it used to be.”

“An iron ore price above $US65/t is positive for exports and budget revenues.”

“As economic growth is increasingly broad-based, another bout of iron ore price weakness – for whatever reason – is unlikely to materially dent the outlook for Australia, nor concern the RBA.”

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