Sell ​​AUD, buy copper and oil – Goldman Sachs

Approaching 2022, Goldman Sachs strategists have exposed the key issues and the main operations to expect, before a phase of “lower octane” in the global recovery, according to Bloomberg.

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The divergence in monetary policy outlook and risks to China’s expansion are, among other key issues. “

“Among the main business ideas are sell to the Australian dollar against the Canadian currency. This is partly based on a bullish view on oil and Australia’s exposure to metal prices and downside risks to the Chinese economy. Too Australia is expected to raise interest rates more slowly than Canada“.

“It is recommended positioning itself bullish on contracts on copper and Brent oil by the end of 2023, since these markets are cyclically tight, with forwards “far from the level of incentives necessary for greater activity.”

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