Short NZD/CAD (From 10-Sep to 12-Sep)
Real-Time AmpGFX – bought to close NZD/CAD position (Wed 9/12/2018 9:25 AM MT)
Bought one unit of NZD/CAD at 0.8523 to close short position
We were stopped out of a short NZD/USD position on a move up through 0.6553
News reports that the US has proposed new trade talks with China have triggered a recovery in NZD. We have closed our short NZD position to re-evaluate as news unfolds.
Real-Time AmpGFX – lowered stop loss orders in NZD/CAD and NZD/USD (Tue 9/11/2018 11:01 PM MT)
We were stopped out of our short GBP/USD position yesterday on the rise through our stop loss at 1.3058; executed at 1.3059.
Positions
Short half unit NZD/USD at 0.6554; s/l 0.6553; t/p 0.6388 (s/l lowered from 0.6633)
Short one unit NZD/CAD at 0.85825; s/l 0.8563; t/p 0.8063 (s/l lowered from 0.8663)
Real-Time AmpGFX – sold NZD/CAD, closed half short NZD/USD position (Mon 9/10/2018 10:27 PM)
Sold 1 unit NZD/CAD at 0.85825
Bought half unit NZD/USD at 0.6531 (closing half short position)
Comment
We have sold NZD/CAD, anticipating that the US and Canada will eventually, perhaps soon, come to an agreement where Canada joins a three-way NAFTA agreement with the US and Mexico.
CAD has weakened in that last two weeks on the failure of a deal being made, and so it will be more of a positive CAD surprise if one is made. Canada is still benefiting from a relatively strong economy, partly due to its ties to a strong US economy.
NZD may suffer as its economy appears to be struggling, milk futures prices are weaker, and trade tensions between the US and China appear unlikely to improve, proving a drag on Asia region currencies.
We have reduced some of our short NZD/USD position, to allow more room to increase risk in a short NZD/CAD position.
Positions
Short half unit GBP/USD at 1.2918; s/l 1.3058; t/p 1.2388 (Capital at Risk 0.58%)
Short half unit NZD/USD at 0.6554; s/l 0.6633; t/p 0.6388 (Capital ar Risk 0.62%)
Short one unit NZD/CAD at 0.85825; s/l 0.8663; t/p 0.8063 (Capital at risk 0.99%)