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Garnry: My essential equity trades for Q1
The dramatic collapse in the price of oil has shifted the global economy, as countries such as China and Australia struggle with the general decline in commodity prices. Looking ahead to the first quarter of 2015, Saxo Bank’s Head of Equity Strategy, Peter Garnry, believes Spain will be able to weather the drastic shifts in the global economy as the European Central Bank prepares for quantitative easing measures.
Peter believes that the introduction of a QE programme would stimulate investor and consumer confidence in Spain. He suggests maintaining a long view on the Spanish economy using the CFD IBEX35.I. The Spanish economy grew by 1.4 percent last year and this steady growth is predicted to continue into 2015 according to the Bank of Spain which issued a 2 percent growth target. Peter however is not as optimistic about the Chinese economy.
After a rise in equities throughout 2014, Peter believes that the Chinese market will take a “pause” in 2015. Equity prices in China rose roughly 40 percent since mid-2014. The country is forecast to have a less profitable 2015, as the government allows time for its interest rate cut and stimulus package to work its way through the economy. Maintaining this bearish outlook, Peter plans to short the Chinese economy using Saxo Bank’s new CFD tracker on China’s A50 index.
02:19 minutes
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