AUD,NZD/FXWW News/Trade Ideas

AUD: Weekend press reports not having any impact at moment

  • Australian Financial Review running a story saying that there will be a rate cut in August.
  • The Australian reporting that the Treasury department will revise down the GDP forecast.

The AUD/USD is pretty much unchanged this morning and AUD/NZD is 50 pips higher (after another earthquake in Wellington this time).

I’m still long AUD/USD and will look to buy more near .9050/75 for an eventual break above .9350 towards .9600. Intraday rallies are likely to struggle near .9260.

  1. I heard a brief report about the situation in Portugal along the lines of failed bond auctions and record spreads but have not been able to find the details. Concern was that it might precipitate some Eurozone panic early this week. I guess the Eurozone has to have something to counter the Detroit story – after all the name of this game is to keep your currency as weak as possible, isn’t it?

Leave a Reply

Your email address will not be published. Required fields are marked *