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Added to AUD long

Bought half unit of AUD at .7929

Position

Long half unit AUD/NZD at 1.0553; 1.0613; t/p 1.0978 (s/l raised)

Long AUD/USD at 0.7790; s/l 0.7693; t/p .8478

Long AUD/USD at 0.7929; s/l 0.7773; t/p o.8478

 

Comment

Always difficult to buy after such a strong rally, but the case against the USD continues to build with softening US data, political gridlock.

Iron ore prices continue to rise

RBA speakers coming on now.  They may try to talk the AUD down, but they may also be reluctant to get into a discussion on the rates and currency outlook, which may be viewed as damning by implication.

Employment data on Thursday may offer a reason to buy AUD, and I suspect demand will be there on the dip if it is weaker than forecast.



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