You can click here for the full text. The AUD/USD is testing .9300 again as some of the headlines such as “lower capital inflows may result in lower A$” hit the market.
Headlines on the Reuters newswires are quoting a Chinese commerce ministry official as saying that the high growth period for Chinese trade as being over. No great surprise there. AUD/USD staying soft below the earlier .9315 pivot.
EUR/AUD has taken out short-term resistance levels near 1.4700; EUR/GBP is trading near it’s important technical pivot at .8160 and we could see some short-covering pre-economic data in UK; EUR/JPY saw plenty of break sellers once it established below 140 … Continue reading
I’m not sure if the market can generate enough momentum to target those stops but it’s certainly possible. Those clever traders who sold earlier at .9330 will undoubtedly be hoping to book profits if we do get down there. EUR/AUD … Continue reading
The latest RBA minutes have just been released. Low rates are appropriate for some time yet. Overall growth in coming months likely to be below trend.
It’s not unusual for bids and offers to be pulled ahead of risk events like the RBA minutes and it seems that is what has just happened. Once the heavy bids near .9315 were pulled, the stops below .9310 were … Continue reading
It will be very unlikely that anything new arises out of today’s RBA minutes given that the Monetary Policy Statement was released only last week. The AUD/USD has been trading in an 8 pip range for much of the morning … Continue reading
Stable rating means less than 1-in-3 chance of change according to S&P
The market has been bearish and short CAD across the board for quite a few months and I for one think that we are due for a bigger correction. USD/CAD is currently in a sideways consolidation broadly between 1.0750/1.1000 and … Continue reading
Headlines just hitting the Reuters newswires that the Thai military has imposed martial law to restore law and order and that it is not a coup. This should give the USD a bid tone against the regional currencies.