Congratulations Aussie dollar. You’ve made a 24-year high. The terms of trade is throwing you a party later this year. Will you be brining parity with you?

Remember last week when the director of the Brazil National Petroleum Agency Haroldo Lima told the world that the Carioca oil field, “Could be the world’s biggest oil discovery in thirty years?” Let’s unpack the word “could.” It “could” be the world’s biggest oil field that will never enter into production.

The huge run-up in commodity prices between January and mid-March has been a welcome boost for listed producers in the falling Aussie equities market. Oil, sugar, coal, gold, wheat… all these things have gained voraciously. Australian companies drilling, harvesting and mining them have weathered the storm of equity-selling better than other stocks.