AUD,NZD/Flows and Orders

AUD not showing any inclination to bounce

International asset managers have been buying Australian stocks this month, leading to a 3% rise in the stockmarket already in December. Despite this, the AUD is lower against the USD by around 0.5% since December 1st and by over 2% since the holiday period began. I think this just goes to show how unbalanced overall positioning was in the AUD.

Fairly quiet again in Asia with only one quick dip from 1.0365 to 1.0350 worth mentioning. Only thin people work in dealing rooms over Christmas (skeleton staff) and most big corporates and real-money players are similarly quiet.

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