Sydney, Feb 16, 2011 (ABN Newswire) - Despite some hesitation or consolidation generally in markets, Clifford Bennett of Herston Economics still believes equity and commodity markets have further to go on the upside. While some suggest US retail sales were weak, they were actually up 0.8% over December/January when the north was experiencing terrible snow storms.

The outlook for the US economy remains strong with the Fed NY Empire State Index for manufacturing again strengthening. Gold remains in a stable up-trend and oil is approaching bargain levels. Clifford Bennett suggests the oddest thing of the day is some banks suggesting the Australian dollar should be sold because of inflation in China. Mr Bennett completely dismisses this view and suggests buying the Australian dollar dip immediately.

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Clifford Bennett
Herston Economics
Email: clifford@herstoneconomics.com

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