Hedge your portfolio: The Australian market is headed South
- Clifford Bennett, Chief Economist at ACY Securities
- 25.08.2021 04:15 am undisclosed
Clifford Bennett from ACY Securities maintains his call that Australia is in recession. He indicates this will last well in to Q3, Q4 and potentially beyond. With this in mind, he suggests traders should start to adjust their portfolio for the downside. Buy gold, says Clifford. 'It rallied despite the US Dollar strength and it is something we have been calling for some time. Also keep in mind if there is a copy cat rally in the S&P/ASX200 is could be the perfect timing to add some shorts on local equities.' Clifford also discusses his expectations for the Australian Dollar (AUD/USD). US$0.7000 is still in sight, says Clifford. Despite a rebound in commodities he considers the move to be short lived and specifically looks for a pull back in US Crude oil after the bounce. Find out Clifford's expectations for the Jackson Hole symposium.
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