Note:
I was very disappointed by NZD/JPY performance today. Looks like NZD had bad numbers, and AUD News did Okay,
but Trade Balance Report number was bad as well....
The good news is The Governor and its Board of Directors decided to leave the Cash Rate unchanged at 2.0 per cent.
I might do a Top Down Analysis on AUD pairs to see where the market is most likely to go throughout this Month.
Remark from the Statement:
In Australia, the available information suggest that moderate expansion in the economy continues. While growth
has been somewhat below longer-term averages for some time, it has been accompanied with somewhat stronger
growth of employment and a steady rate of unemployment over the past year.
Overall, the economy is likely to be operating with a degree of spare capacity for some time yet, with domestic
inflationary pressures contained.
Inflation is thus forecast to remain consistent with the Target over the next 1 or 2 years, even with a lower exchange rate.
Honestly, the AUD remains vulnerable to developments out of China and I hope that the positive momentum stays a bit longer
so that I can take advantage of it. I won't be surprised if AUD/USD decides to test 0.74 by the end of this month or early next
month...In the process, USD needs to stay weak or maybe The Fed decide not to raise rate this year...
I was very disappointed by NZD/JPY performance today. Looks like NZD had bad numbers, and AUD News did Okay,
but Trade Balance Report number was bad as well....
The good news is The Governor and its Board of Directors decided to leave the Cash Rate unchanged at 2.0 per cent.
I might do a Top Down Analysis on AUD pairs to see where the market is most likely to go throughout this Month.
Remark from the Statement:
In Australia, the available information suggest that moderate expansion in the economy continues. While growth
has been somewhat below longer-term averages for some time, it has been accompanied with somewhat stronger
growth of employment and a steady rate of unemployment over the past year.
Overall, the economy is likely to be operating with a degree of spare capacity for some time yet, with domestic
inflationary pressures contained.
Inflation is thus forecast to remain consistent with the Target over the next 1 or 2 years, even with a lower exchange rate.
Honestly, the AUD remains vulnerable to developments out of China and I hope that the positive momentum stays a bit longer
so that I can take advantage of it. I won't be surprised if AUD/USD decides to test 0.74 by the end of this month or early next
month...In the process, USD needs to stay weak or maybe The Fed decide not to raise rate this year...
Have an INVESTOR Mindset, but Trade like an ENTREPRENEUR