EWA - EWA: Australian Equities Are Likely Undervalued

• Australian equities are likely undervalued, in spite of near-term recessionary pressures and a falling Australian dollar.
• The Australian dollar is actually probably undervalued, although near-term downside pressures / risks are present.
• In the medium- to long-term, I think AUD/USD will form a base for further upside.
• I also think the Australian equities (i.e., EWA) should find strength on the back of relatively inexpensive valuations.
• Therefore, while EWA might fall out of fashion in the near term, Australian equities are a viable bet in the longer term.

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