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AUD/USD

Quoting Geelong_Cats
http://noir.bloomberg.com/apps/news?..._r8IgLQw&pos=5

pretty much the election determines where the aud is headed. i am rooting for abbott
likewise, but with greens pretty much assured senate seats, i'm thinking it'll could kick start short.

What does everyone else reckon?
  • Post #22,662
  • Quote
  • Edited Aug 19, 2010 6:24pm Aug 18, 2010 11:08pm | Edited Aug 19, 2010 6:24pm
How are you.. just passing by to say hi

..
Buy on on dip 8900 support breaks, get out.
http://money.cnn.com/2010/08/19/mark...kets/index.htm
risk aversion on its way
Quoting Forexfsa
risk aversion on its way
Lowest level since july 2009
watch out below...................
WTF is going on in all these markets where prices are jumping like crazy???
Philadelphia Fed for August -7.0


Versus median forecast of +7.5. . Lowest read since July 2009.
Then why is the AUD/USD falling? Shouldn't it jump it up since it was bad US news? Why did the USD/CAD jump like crazy? Am I not reading this right?
  •  Ronin77
  • | Joined Dec 2008 | Status: เงินกินเปล่า | 95 Posts
Quoting jtrading
Then why is the AUD/USD falling? Shouldn't it jump it up since it was bad US news? Why did the USD/CAD jump like crazy? Am I not reading this right?
bad news for the US dollar doesn't always mean it will be bad for the US dollar, this is one of the first things you should learn as a trader.
Ronin77
Support @ 8944. If broken, we would see further downside....
It doesn't make sense because the USD/JPY fell like crazy, so I don't understand why some pairs are rising and others falling. There needs to be some sort of explanation.
Today is just one of those "that's-just-how-the-market-is" days. The only pairs that reacted "correctly" to the news is the EUR/USD and the USD/JPY. The other pairs are just doing their own thing.

Have no clue. Totally confused.
Make your losses in demo. Earn your profits live.
Quoting jtrading
It doesn't make sense because the USD/JPY fell like crazy, so I don't understand why some pairs are rising and others falling. There needs to be some sort of explanation.

Australian Dollar is very attractive currencies, but high risk which means offer higher overnight rates. Bad Condition in US will cause US market to tear away or closing their position in AUDUSD or EURAUD with some cash in it. have you ever open long bid/offer position in this pair? you'll understand why US people are shedding this currency, along with profit + swap. it is very profitable act indeed

I often watch AUD pairs and see how they behave, i always put my position in these pairs, long bid on AUDUSD, AUDJPY and long offer on EURAUD, but don't take too much time on pairing otherwise or you'll get heavy swap

I'll take another position when AUDUSD goes up a bit, just to do short selling
aud and nzd rely on commodities, if the worlds economy looks bad then they are affected as less people will buy goods, meaning less need for their commodities. I think thats why bad us news sends aud/usd down, as the us is seen as the benchmark
Quoting jimbo86
aud and nzd rely on commodities, if the worlds economy looks bad then they are affected as less people will buy goods, meaning less need for their commodities. I think thats why bad us news sends aud/usd down, as the us is seen as the benchmark
Since US Economy is such a closely watched world economy barometer, bad US Econ data would indicate slower recovery of world economy, that I agree.

But Gold, which is the commodity produced by Australia is considered the safe asset that people tend to buy in bad economy in order to preserve wealth. So in this case, wouldn't AUD go up since Australia's main commodity is Gold?
Make your losses in demo. Earn your profits live.
Quoting Forexia
Since US Economy is such a closely watched world economy barometer, bad US Econ data would indicate slower recovery of world economy, that I agree.

But Gold, which is the commodity produced by Australia is considered the safe asset that people tend to buy in bad economy in order to preserve wealth. So in this case, wouldn't AUD go up since Australia's main commodity is Gold?
To my understanding, more unemployment - less consumption - less demand for commodities. That's why commodities currencies are bashed away. Look at USDCAD.
Quoting Forexia
Since US Economy is such a closely watched world economy barometer, bad US Econ data would indicate slower recovery of world economy, that I agree.

But Gold, which is the commodity produced by Australia is considered the safe asset that people tend to buy in bad economy in order to preserve wealth. So in this case, wouldn't AUD go up since Australia's main commodity is Gold?

thats true, i didnt think about that.
the way i see it, it all revolves around china, as they are buying much of the produce from au and nz (iron ore, timber etc). and if they cant sell their produce, they wont be buying the core materials.
do you have a longer term bias in aud and nzd?
Quoting kandarv
To my understanding, more unemployment - less consumption - less demand for commodities. That's why commodities currencies are bashed away. Look at USDCAD.

i think thats how it works. took me a while to get my head around how bad us news saw aud,nzd/usd drop.
it has been pointed out to me before to watch the dow futures, as aud follows closely.
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