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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:
Commodity FX (CAD AUD NZD NOK)
Discuss Commodity FX (CAD AUD NZD NOK)
1.0420 looks like an area where a bounce might take place. Will try to exit there and get in again around 1.0500 if possible.
Will check out edmatts.
Thanks for the reference.
I am going to follow the only trading strategy which I know of, again.
Sell at big figures or semi big figures- like in the AUD right now.
Sold at 1.0495. Will cut at 1.0655 or tp at 1.0350.
Try to type in google Anna Monti or forex freebot. I think it'll be interesting for you :)
AUD/USD SPIKES to $1.0480, hitting a a new post-flotation high of 29 years, after a stronger than expected set of March employment data out of Australia. March job creation saw a 4-month high 37.8K jobs added (above expected 24K), unemployment rate fell for the first time in 3 months to its lowest level in over 2 years at 4.9%. Full-time / part-time breakdown made this number particularly bullish - 32K new jobs were full-time against net gain of 5.7K in the more transient part-time sectors. Recall this breakdown was critical in the prior month's employment report - even though February saw a net loss of 10K jobs, strong full-time component put a lid on a sustained AUD damage. The decline in unemployment rate was also made particularly impressive by an uptick in labor participation rate - something we have yet to see in improved jobs data stateside. Strong jobs growth two months removed from the Queensland flooding disaster should restore RBA confidence, yielding a more hawkish statement in May than what we saw earlier this week. That NZD and CAD fell to session lows just as AUD was rising after the jobs report did not escape our attention - most likely explanation is recalibrated carry positioning into the higher yielding Aussie dollar.
By GG of AshrafLaidi.com Staff
Ashraf