In placing the short position in AUD earlier this week, I had in mind persistent strength in the USD on firming confidence in the recovery in the US and higher US yields, in spite of diminishing expectations for any near-term progress on tax reform. The Comey affair has shifted the dynamics somewhat to be less […]
10 May 2017 (Stop-loss triggered on long EUR/CAD at 1.4869) Position Short one unit AUD/USD at 0.7343; s/l 0.7438 US energy report & Comey The Comey firing, unsurprisingly, is dominating news. While few seem to argue that Comey’s judgment has been poor and confusing, the timing of this firing, days after the former acting […]
Position Long half unit EUR/CAD at 1.50806; s/l 1.4893; t/p 1.5493 Comment Canadian bank stocks remain under pressure in the wake of the HCG event. BoC will presumably be very cautious on policy going forward, fearing the broader impact on the housing market and credit conditions. The oil price has broken through March lows, […]
Bought half unit EUR/AUD at 1.44125 Positions long half unit EUR/AUD at 1.44125; s/l 1.4273 Comment 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 […]
The attached pdf covers key developments at the end of the week (31 March). Thoughts behind the trade are similar to that discussed on 27 March. Positions long half unit EUR/AUD at 1.4000; s/l 1.3867
See attached pdf for commentary and charts on this trade.