Aud/usd

I do see some weakness being melted off in the Australian dollar, as supposedly fundamentals are still strong in that country.

Apparently, according to the news, NZD is being pulled under because fundamentals are not so good in that country right now. Thus influencing AUD negatively.

My live kiwi long trade is going to Hell. Not saying that's a bad thing. :D

Plus the USD strengthening due to interest rate hopefuls buying it may be propping up the AUD some causing it to retrace.

But that will be short-lived.

The Exchanger
 
Quote from Ivanovich:

If you want the interest, and a better position, short EUR/AUD - that's where the money is in the interest right now.
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Very spikey pair that one though. Would make me nervous being in it for a long period.
 
Quote from Exchanges:

I do see some weakness being melted off in the Australian dollar, as supposedly fundamentals are still strong in that country.

Apparently, according to the news, NZD is being pulled under because fundamentals are not so good in that country right now. Thus influencing AUD negatively.

Plus the USD strengthening due to interest rate hopefulls buying it may be propping up the AUD some causing it to retrace.

But that will be short-lived.

The Exchanger
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Just released figures of NZ current account deficit for the last year ~$13 Billion, worst ever. Apparently NZers are currently spending 113% of their incomes.
 
Quote from mgarc:

anyone know what happened at 17:45ET? ... NZD (and AUD) pushing lower once more.
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This is the report from Oanda FXnews:

* 23 Mar 06: 23:26(SGA) - FX NOW! NZD/USD. NZD/JPY Flows - Kiwi "Skydives" to 22-m lows,fuelled by -0.1% GDP,Uridashi


The Kiwi "Skydives" to fresh 22-month lows of 0.6165-70 on few sorties of selling after the NZ GDP which contracted 0.1%, in line with 4CAST expectation, from 0.6245-50 and breaking the 0.6170 barriers, triggering loads of stoploss related selling. Kiwi selling is broad based, not just vs USD, but with NZD/JPY diving from 73.50-60 to 72.60, just off its 14-month lows of 72.30-40 seen earlier, with large stoploss on break of 72.00 handle- and likely to trigger more sales of NZD/JPY from Japanese Uridashi investors, especially for those who bought in the last 14 months - as all will be facing FX losses - some substantial. Hearing Kiwi may be "gearing" up to break the next 0.6150 Barriers, more downside seen. WLNZ GDP -0.1%
 
What is the point longing the kiwi when rates are going down there, up in JPY, EUR, USD. The carry trade differential is coming to an end.
Cannot see the logic in it. Can you enlighten me on your reasoning for going long?
 
Quote from YeahIknow:

What is the point longing the kiwi when rates are going down there, up in JPY, EUR, USD. The carry trade differential is coming to an end.
Cannot see the logic in it. Can you enlighten me on your reasoning for going long?
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"reasoning?"

whoever said successful trading is based on reasoning?

It's more like jumping in front of a firing squad, trying not to get hit, knowing when they run out of bullets you'll walk away not dead.

:D
x
0.6150
1.1971
 
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