Comments on: AUD staying heavy in early Asia

By: Sean Lee

Sean Lee — Thu, 23 May 2013 06:23:09 +0000

Hi Mike, I’m looking for a small overall retracement of the massive intra-year downmove and asset managers will put on partial hedges usually but part of the strategy has a currency component as well

By: Mike

Mike — Thu, 23 May 2013 05:20:24 +0000

Hi, Sean,

2 questions if I may,

1, You’re targeting USD/CHF at 1.10, where is this figure(tech wise) coming from?

2, Real money are forced to hedge, but why they didn’t hedge when they initiate their asset buying?

Thanks

By: Sean Lee

Sean Lee — Thu, 23 May 2013 01:46:18 +0000

The problem Nachiket is that so many big international asset managers are long Australian assets and they are being forced now to hedge against currency risk. If 9575 breaks then there will be more hedging and the big hedge funds are trying to force this to happen. Usual rules

By: Nachiket

Nachiket — Thu, 23 May 2013 01:28:19 +0000

0.9650 gone. sean whats next 0.9600 or 0.9550. this is crazy selling. it isn’t such a bad economy. wihout qe they are growing.

By: Nachiket

Nachiket — Thu, 23 May 2013 00:01:17 +0000

that is another 100 pips from here on. I see a rise to 0.9900 first from heavily oversold conditions. don’t forget we have a 600 pip fall this month itself. that is much more than aussie’s historic falls in a month. i think another 40 pips but I don’t think we fall more.

By: Sean Lee

Sean Lee — Wed, 22 May 2013 23:54:55 +0000

Many thanks Nachiket, appreciate kind words. No don’t think we see straight line fall but A$ cud see 9550 maybe?

By: Nachiket

Nachiket — Wed, 22 May 2013 23:48:27 +0000

another great thing abt the site. the ticker is very fast in picking rates.excellent.

By: Nachiket

Nachiket — Wed, 22 May 2013 23:41:36 +0000

great work sean with the new site. what a horrible day yesterday was. i never thought kiwi and aussie would tank so hard. what is ur feeling on both. do we fall w/o a durable bounce