AUTOREFRESH 
AUD under severe pressure as liquidation begins
By Sean Lee || May 19, 2010 at 00:57 GMT
|| 12 comments || Add comment
Stops have been triggered above 1.4250 in EUR/AUD and AUD/JPY has tumbled over 2% already this morning and it seems that macro long positions are starting to jump off the golden goose. Dangerous signs for the AUD but there are some decent sized bids on the interbank platforms around the current .8530 level which might stem the flow for a while.
Some how this gives me a feel of this week Monday morning where it fell in Japanese session strong but bounced in later half. I am going to take a break. I think I had good profits for the day and will want to safe guard them!!!
they should make all currency ndf. aud ndf, eur ndf, gbp ndf. this way there will no longer be any speculation
Not much in the way of support for aud/usd if 85 is broken. Until 84 – 83.75ish
The main reason is the Westpac consumer sentiment data is below estimate. China will be more than happy to sell their EURO and buy AUD.
There is another piece of AUD news coming up.. this one will mitigate some of the effect from the consumer sentiment released earlier. Maybe even a bit of a short squeez?
a little spark ( Greece ) go and generate a huge fire in all the forest… reaching Australia ! mmm I don’t think so. Australia will be good… even if AUD goes down a little.
Australian wages excluding bonuses rose a seasonally adjusted 0.9% in the first quarter of 2010 from the fourth quarter 2009 and rose 3.0% from a year earlier, Australian Bureau of Statistics labor price data issued Wednesday show.
Economists surveyed ahead of the announcement on average forecast a rise of 0.8% over the quarter.
The index measures movement in underlying wages by calculating the change in the wage and salary cost of a basket of jobs.
In the private sector, wages excluding bonuses rose 0.8% in the first quarter from the fourth quarter and rose 2.6% from a year earlier. Public-sector wages rose 1.2% in the quarter and increased 4.3% from a year earlier.
Let’s see if this slightly higher than consensus wages report will do anything to stabilize the AUD.
Sean, interesting to note that the AU has taken out last week’s flash low, but the AJ still has not. The AJ is much better bid than AU.
Pandu
Patience Pandu, I think that low will be taken out in the next few sessions also
Data from Australia has been positive so far, in fact its the best among all, 6 rate increase in 7 meetings. At least it will provide some strong support for Aud, but why the great fall during these past 2-3 weeks. Any one care to comment??
The AUD has dropped sharply against the SGD of recent. historically the AUD has been 1.2x to 1.3 against the SGD.
where is this expected to bottom out- will it stay at 1.2 x or rise?