Hey, anyone here from Australia and New Zealand? What's going on with your currencies? My aussie trade is already in textbooks and I am pleading for some explanations. Yours, T.
I'm not an Aussie but have been studying this pair and NZ for 2 years. The AUD/USD follows closely (80%) to the movements of the GBP/USD but not as much pips. The average trading range is around 60 pips. It's most active news event is AUD unemployment (this week) and sometimes trade balance. Since it is a big producer of copper and gold it is a commodity currency. It does a massive amount of business with China so if there is China news sometimes that can affect it. NZ is a parallel pair most of the time, but can be more crazy in its movements. Go for 20-30 pip profit targets on a real good move. They both seem to like to make slow deliberate moves over many hours. NZ at some news events can be real crazy.
I'm not an Aussie but have been studying this pair and NZ for 2 years. The AUD/USD follows closely (80%) to the movements of the GBP/USD but not as much pips. The average trading range is around 60 pips. It's most active news event is AUD unemployment (this week) and sometimes trade balance. Since it is a big producer of copper and gold it is a commodity currency. It does a massive amount of business with China so if there is China news sometimes that can affect it. NZ is a parallel pair most of the time, but can be more crazy in its movements. Go for 20-30 pip profit targets on a real good move. They both seem to like to make slow deliberate moves over many hours. NZ at some news events can be real crazy.