Bloxo: Buy Australian dollars with both hands

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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.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.