Posted on - March 3, 2015 6:47 am (Australia/Sydney) |
There is a very even split amongst analysts and interest rate traders as to what the RBA will do today. The casting vote from the ‘chairman of RBA watchers’, Terry McCrann, would seem to suggest that they stay on hold this time due primarily to the white-hot property market. AUD/USD sentiment remains very heavy but […]
Posted on - March 2, 2015 7:34 am (Australia/Sydney) |
EUR/USD is currently trying to hang on to hourly support levels near 1.1170/80 but a break below here should hasten a test of recent lows around 1.1100. Nobody wants to buy the EUR at the moment, except to cover shorts it seems. Short-term resistance levels start at 1.1240.
Posted on - March 2, 2015 7:14 am (Australia/Sydney) |
The market has been expecting some stimulative measures from the PBOC and perhaps that’s the reason for the lack of reaction from the AUD market. The Chinese central bank cut the benchmark lending rate by 25 bps to 5.35% and the benchmark saving rate, also by 25 bps, to 2.5%. AUD/USD is having difficulty establishing […]
Posted on - February 27, 2015 7:49 am (Australia/Sydney) |
Most of the big banks are expecting very significant end-of-month fixing flows later today and all the reports that I’ve read so far suggest that these flows will be heavily USD negative with the GBP expected to be the main beneficiary. Overnight price action certainly doesn’t agree with these presumptions but it’s probably wise to […]
Posted on - February 27, 2015 7:36 am (Australia/Sydney) |
I don’t like the overnight price action in EUR/USD and I’m exiting my long AUD/USD play basically at break-even. It seems the market was caught long of cable and AUD/USD after a big EUR/USD flow hit the market and if EUR/USD continues to tumble then AUD/USD will likely follow, albeit to a lesser degree.