Forum > View Topic
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)
Wells Fargo's Bennenbroek mentioned this appreciation would be bullish for commodities currencies.
Also, Westpac Analyst today on CBNC Asia mentioned that AUD and more importantly AUDJPY would benefit very strongly, and even expect 90/95 this year.
I remember you already said that China tightening means STRONGER JPY (&TWD, MYR).
I thought Stronger JPY would drag AUDJPY down. I thought yesterday's China speculation had driven AUDUSD and CADUSD DOWN including Oil. Is this a misdirection? Is this why Gold is stronger also?
I hope to get your advice.
Ashraf, being the humble that he is, didn't post this on all threads...so I'll volunteer.
And you guys thought Ashraf Laidi was good at inter-market analysis!
http://www.youtube.com/watch?v=bS9B3i3vaMY
Asad
neighbour..u trade on ur own or u r a company?
Now expect more declines in OIL relative to Gold
Ashraf
We are so close to the upcoming Aust job data during the asian trading session, and would be key to see whether AUD/USD break above 93 handle, and ASX 200 above 5,000 psychological level. Perhaps simplistic, should the jobs data printed tomorrow comes extradinarily positive, it might just be enough to make it above 93. There are other attributes that might just grease the wheels, especially as we seen some recent breakdown of resistance / support levels despite stronger USD 1) Gold's breakout upwards today 2) Oil still pretty high 3) USDCAD near parity.
With the exception of last months Aust jobs data, AU jobs number has a good track record of extraordinarily better-than-expected-job-figures, so this shouldn't be a surprise. How much of this is priced-in??
Whether it holds above 93 for a day or more, I would love to get views from others on this forum.