Via Paul Bloxham at HSBC:
“The Surf’s up,” says Paul Bloxham, chief economist for Australia and New Zealand at HSBC, adding “we are riding a global growth wave.”
Bloxham is referring to recent Australian GDP growth data which shot up by 3.1% in Q1, the largest increase in 6 years, and explains why it is he believes the outlook for the Australian economy and its currency is bright.