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Long AUD/NZD trade 11-15 September

This trade was closed on stop on Friday 15 Sep

Real Time AmpGFX – bought AUD/NZD (Mon 9/11/2017 1:25 PM MDT)

Bought 1 unit AUD/NZD at 1.1079

Position

Long one unit AUD/NZD at 1.1079; s/l 1.0973; t/p 1.1272

Comment

Weak New Zealand retail sales.

We are still heading for a hung parliament in NZ, NZ First king-maker, generating a period of horse trading uncertainty that probably involves tougher policies on immigration and foreign investment in the housing market, fear over interfering with the RBNZ’s mandate.

USD looks on a firmer footing this week, with US yields heading higher.  This has tended to undermine NZD more than AUD.

China markets may seem more stable with Chinese government moving in to calm strength in CNY, and stability likely heading into 19th Party Congress.

We see a potential for Australian economic data (Business confidence, consumer confidence, and employment) to be upbeat.

Conversely, NZ housing data today may continue its weak trend

Metals prices firming on Monday, milk futures softening recently.



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