We like the Australian dollar ahead of the RBA minutes for a short-term trade and since AUD/CAD has acted as we expected, we’re going to add to our longs here at 1.0295.
We bought AUD/CAD on Friday at 1.0248. Read about it here:
Our catalyst for buying now is today’s release of [...]
Technicals were the primary driver for a long AUD/CAD trade I entered Friday. I announced the trade on twitter via FX_Button.
Every Friday, shortly before the market close, I take a look at the weekly charts and see if anything jumps out. This turnaround, along with probably reversals in CHF crosses caught my attention. [...]
Rumours like the ones we saw today about trouble at SocGen are just the beginning. The three L’s of the rumour-monger are about to take front stage: liquidation, losses, litigation.
The 17% drop in the S&P 500 since the beginning of July is going to generate fund liquidations. Every holding in a funds will get rag-dolled [...]
Entered AUD/USD at 1.0950 on 26 July. Exited July 26 at 1.1042. Result: +92 pips
Entered with no stop. Greatest open loss: 15 pips Greatest open gain: 110 pips
Sometimes a trade that is bought minutes or hours ahead of data looks whimsical but when it’s good, it’s often because it was set-up long beforehand.
Our best trades over the past month have been on Australian fundamental data so we’re going to continue to stick with what works by buying AUD/USD ahead of the RBA decision at 1.0970. That’s 110 pips below the record high and we’re expecting AUD to blow through that level by the end of the week.
Entered AUD/USA short at 1.0735 on July 4. Exited July 18 at 1.0627. Result: +108 pips
Entered with stop at 1.0800 (65 pips). Greatest open loss: 54 pips Greatest open gain: 210 pips
I entered this trade ahead of the RBA decision on July 4. I expected a dovish statement and explained why in a [...]
It’s getting more difficult to avoid insults and hyperbole when describing the debt ceiling imbroglio. Surely you haven’t stumbled here looking for a recap of the day’s news so I’ll spare you the exercise save for a few thoughts. 1) On Tuesday it actually appeared that debt ceiling talks were moving backwards. 2) the real [...]
Dovish commentary from the Reserve Bank of Australia would have crushed any lingering hopes of upcoming rate hikes but that wasn’t the case at all as the minutes indicated rate hikes could come if the CPI reading next week is high.
What sounded like worries about employment and growth in the statement, read more like [...]
Signs of a slowdown in the Australian economy will force the Reserve Bank to hold rates unchanged on Tuesday and are making expectations of an August hike vulnerable. The Australian dollar is likely to fall if policymakers do not take strong incremental steps toward future rate hikes.
At 0430 GMT, all 28 economists surveyed [...]
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