Why AUD/USD may be a long term buy

Australia bears … look away now … you’re not gonna like this …
A new study by Deloitte identifies 25 sectoral hotspots with the biggest potential to contribute to Australia’s prosperity over the next 20 years.
Of these 25, the five key sectors are gas, agribusiness, tourism, international education and wealth management.

• Together, these “Fantastic Five” sectors could add $250 billion to the economy over the next two decades
• Potentially matching mining, which now makes up about 10% of the country’s economy.
• The nation’s output of liquefied natural gas (LNG) is expected to increase by 250% between now and 2017-18
• “If we achieve that, we could surpass Qatar to become the world’s top LNG producer” the consulting firm said
• More than $200 billion of gas infrastructure is under construction and up to another $180 billion in gas projects are being considered
• If all these proposals go ahead, they could create 150,000 jobs and deliver tax revenue of $5 billion a year
• While the study predicts that the oil and gas industry will soon make up about 2% of Australia’s economy, it also acknowledges that mining will remain “a genuine growth wave” for the economy
• Amid predictions for continuing falls for commodities prices, Deloitte also says the sheer size of the mining sector will ensure it remains central to the national economy for many years to come

It ain’t all roses, of course.