Clifford Bennett from ACY Securities joined ausbiz TV to discuss the current state of currencies and what the forecasts are telling us.

Clifford states that ‘it has been very easy to this point but we need to get back on our toes’ as we approach volatile levels in currencies. Individual central banks, governments, and some form of joint statement suggesting currencies need to stabilise is approaching.

If you missed Clifford’s forecasts last year they were EUR .97, AUD 65, GBP 1.05, and this year highlighting .88, .58, 1.00 and .95 respectively. On to the US economy, it’s looking like a clear direction towards a recession with massive evidence indicating it may be an inescapable depression.

Clifford links this to the governments and central banks not recognising the problems in the economy and therefore not taking any action to avert it. Clifford’s call is that there will be quite a significant economic catastrophe in the US and Europe. Domestically, we are not immune from this either and a recession is likely in Australia and Clifford remains bearish on equities.

Listen here for all the details with Clifford.

RISK WARNING: Foreign exchange and derivatives trading carry a high level of risk. Before you decide to trade foreign exchange, we encourage you to consider your investment objectives, your risk tolerance and trading experience. It is possible to lose more than your initial investment, so do not invest money you cannot afford to lose。 ACY Securities Pty Ltd (ABN: 80 150 565 781 AFSL: 403863) provides general advice that does not consider your objectives, financial situation or needs. The content of this website must not be construed as personal advice; please seek advice from an independent financial or tax advisor if you have any questions. The FSG and PDS are available upon request or registration. If there is any advice on this site, it is general advice only. ACY Securities Pty Ltd (“ACY AU”) is authorised and regulated by the Australian Securities and Investments Commission (ASIC AFSL:403863). Registered address: Level 18, 799 Pacific Hwy, Chatswood NSW 2067. AFSL is authorised us to provide our services to Australian Residents or Businesses.

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