Gold getting pummeled yet AUD and NZD remain at nose bleeds. Amazing what they do for four days premium on the rollover. Who will be the last one's out?
Trading currency is not easy. I have read a lot analysis from different analysts. I find Ashraf to be one of the most "trustworthy". He is a diamond in the rough, a jewel. I followed his advice on the long USD/JPY and short GBP/USD trade. I nibbled a bit on the EUR/USD short, but I feel a lot of the bad news is already factored into EUR.
The sentiment is just all USD for now. Check what happened to NZD/USD on the NZ GDP #'s. There was a "shortfall" similar to what the US had earlier in the day. Yet USD rallied on both reports. AUD taking it on the chin in sympathy with NZD.
AUD just playing catch-up now with the pummeling received by EUR and GBP earlier this month. Those two pairs have, at least for now, stopped the bleeding and are trying to carve out some short-term bottoms here. AUD will receive some "support" due to the yield differential over USD, however, this is the "old news" carry trade from most of this year.
It appears to be a case of moving the "jello" around to support USD. First it was EUR and GBP. Now it is NZD and AUD. However, USD has basically stopped appreciating vs CHF and CAD. Once the jello (USD) is completed being moved around, it will weaken and the Dollar Index should begin to fall in earnest again.
I smell a reversal in the currency markets just around the corner. Anyone who had large profits for the year locked them by now, if not last week at the latest.
same as yesterday in the Asian session, AUD drops 4 pips a downtick. Mid to long term I am bullish on AUD/USD. However, trying to catch the falling knife is tough here. Every pice of news is spun USD positive. The FED will NOT raise interest rates in 2010 out of fear of pricking the stock market rally. The most they will do is lighten up on the quantitative easing. With unemployment in excess of 10%, and prospects of this rate being reduced not very high in ther near term, the USD rally will end abrubtly. 0.92 AUD/USD in 3/4 months. Based on that, ok to start averaging in and getting paid premium while you wait for this nonsense USD rally to end.
It may be a bit early on AUD/USD. However, it is my belief this USD rally is getting long in the tooth and is based on a miopic belief the FED will be raising rates in first half of 2010. The odds of this happening are slim and none. Once the market figures this out instead of simply buying USD for end-end-of-the-year pleasures, AUD will rocket to new highs. Until then, with the lack of liquidity, AUD/USD is at the mercy of market manipulators simply running stops.
It may be a bit early on AUD/USD. However, it is my belief this USD rally is getting long in the tooth and is based on a miopic belief the FED will be raising rates in first half of 2010. The odds of this happening are slim and none. Once the market figures this out instead of simply buying USD for end-end-of-the-year pleasures, AUD will rocket to new highs. Until then, with the lack of liquidity, AUD/USD is at the mercy of market manipulators simply running stops on the downside. I noticed in yesterday's Asian session, downticks were 4 pips a pop. Amazing!
Try publishing this in the UK weekend papers: Traders bet BankofEngland will raise rates to 6.25% --highest since 1… https://t.co/GWXrTEAk4R(11 months ago)
Poor start to a slow market day as Ezone PMIs disappoint. Im still keeping an eye on the rare (-2%) USD-GOLD combo,… https://t.co/UyRzWsRbs7(11 months ago)
-5% YTD is not good, while -7% from the year highs can be tough. Gold traders have their eyes fixated on this for n… https://t.co/NV5UMKsfNo(11 months ago)
ما وراء هبوط الدولار مع الذهب و من منهما يتمكن الارتداد؟
موعدنا الآن في غرفة شركة إكس أم لجلسة الأسواق
https://t.co/Y7tD0RxCS2
@XM_COM (11 months ago)
Jobless claims > 300k before next FOMC meeting would be ideal for Fed to make up for any CPI upside surprise (11 months ago)
"Cook & Eat at Home" scheme may come next to defeat UK inflation... (11 months ago)
Earlier in the week gold selloff was attributed to smaller than exp China EASING. Metal is now holding v well despi… https://t.co/ZW9cmXTPWW(11 months ago)
Trading currency is not easy. I have read a lot analysis from different analysts. I find Ashraf to be one of the most "trustworthy". He is a diamond in the rough, a jewel. I followed his advice on the long USD/JPY and short GBP/USD trade. I nibbled a bit on the EUR/USD short, but I feel a lot of the bad news is already factored into EUR.
The sentiment is just all USD for now. Check what happened to NZD/USD on the NZ GDP #'s. There was a "shortfall" similar to what the US had earlier in the day. Yet USD rallied on both reports. AUD taking it on the chin in sympathy with NZD.
AUD just playing catch-up now with the pummeling received by EUR and GBP earlier this month. Those two pairs have, at least for now, stopped the bleeding and are trying to carve out some short-term bottoms here. AUD will receive some "support" due to the yield differential over USD, however, this is the "old news" carry trade from most of this year.
It appears to be a case of moving the "jello" around to support USD. First it was EUR and GBP. Now it is NZD and AUD. However, USD has basically stopped appreciating vs CHF and CAD. Once the jello (USD) is completed being moved around, it will weaken and the Dollar Index should begin to fall in earnest again.
I smell a reversal in the currency markets just around the corner. Anyone who had large profits for the year locked them by now, if not last week at the latest.