Markets are starting to move as expected, in a very bullish pattern, says Clifford Bennett of Herston Economics. In fact he believes the next two weeks could be among the more interesting periods of the year, as equity and commodity markets begin to accelerate higher. Oil and Gold continue to look good for further gains, and so do the Euro, sterling and Australian dollar.
China will remain at a robust pace of economic growth despite the official target having been lowered. In the US data yesterday confirmed a positive outlook with the ISM for manufacturing at its highest level since 1988. Consumer spending was higher by 0.2% in January, after 0.5% in December, not a bad result given the harsh weather at the time. Overall the outlook for strong global growth and major market gains remains in place.
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