Bought EUR/AUD

Bought half unit EUR/AUD at 1.44125


long half unit EUR/AUD at 1.44125; s/l 1.4273 


Eurozone again posted another increase in its preliminary April PMIs.  Recovery continues to show resilience and gaining moment.  US preliminary PMI was weaker.  EUR upside potential seems significant at this time with Macron well positions to take the final round of the French election.   Little change expected from ECB this week, but some risk it shifts guidance a bit to remove downside risk bias.

AUD is likely to run into resistance near .7600, barring a significant upside surprise for the CPI on Wednesday.

Global risk appetite should be contained by the risk of US failing to get a debt ceiling increase, healthcare bill debate, and Trump potentially announcing a tax package all this week. 

But if Trump admin can get wins, higher US yields may hurt AUD more than EUR anyway.


Disclosure and Certification

  • The author of this report often has positions in the currencies and securities referenced in the report at the time of publication, or plans to trade in these currencies and securities.
  • The views expressed in this report accurately reflect the author’s personal opinion about the referenced currencies and securities referenced and other subject matter.
  • The report does not contain and is not based on any non-public, material information.
  • The information in this report has been obtained from sources we believe to be reputable and accurate, but we have not independently checked or verified that information.
  • This report is protected by copyright laws. Please do not republish, post or distribute in any way its contents without prior permission from our company.
  • Our Company is incorporated and licensed in Australia to provide only general financial advice. Please see our financial services guide and terms and conditions for use of this report for more information.

Greg Gibbs,
Founder, Analyst and PM
Amplifying Global FX Capital Pty Ltd