RBA Statement

RBA Statement

From rba.gov.au

At its meeting today, the Board decided to leave the cash rate unchanged at 3.50 per cent. Having picked up in the early months of 2012, growth in the world economy has since softened. Current assessments are that global GDP will grow at no more than average pace in 2012. Most commodity prices have declined, which has helped to reduce inflation and provided scope for some countries to ease macroeconomic policies. Australia's terms of trade peaked nearly a year ago, though they remain historically high. China's growth has moderated to a more sustainable pace, but does not appear to be slowing further. Conditions in ... (full story)

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Aug 6, 2012 11:41pm

Quoting webart

Disliked

Another kick in the guts for Manufacturing, for exporters and for retailers trying to compete with cheap imports.

RBA doesn't care its all just theoretic modeling for them, meanwhile the Swiss will keep buying the Aussie up and up

Ignored

Sounds like you got a pretty good handle on the situation, so as a trader you must be making a million... I'm envious.

pt49

Aug 7, 2012 12:13am

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Quoting webart

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Nah you will be making more than me with all of those screens ... I"M envious !

Ignored

You can have a multi screen setup quite cheaply... go to ebay and buy a nVidia Quadro series video card to plug into your board... I have 2 nVidia Quadro NVS 440 256MB PCI-E cards (can run 8 monitors) I paid $550 per card 8 years ago... today get em on eBay for $50 to $100.
The most expensive part of the setup is the monitors.

If you got a quad core box with a SSD to put em on, I'm envious.

pt49

Aug 7, 2012 12:37am

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Quoting belief81

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Is working 8 monitors??????? r u sure????

Ignored

I have 6, but it can run 8 monitors (on 2 cards... 4 per card, each card has 2 DVI ports)
•PCI-Express x16

•Dual DMS-59 ports - with adapters the video card can support up to 4 monitors... you need 1 DMS-59 to DVI adapter (that will support 2 monitors) for each port

pt49

Aug 7, 2012 1:13am

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man... we are off topic on the thread starter, but I guess the RBA didn't cause much stir anyways.

I managed to crash my system plenty of times running intensive tests on up to 20 platforms simulataneously running EA's with different settings (only proved to me that I'd be an idiot to use EA's on live accounts).

Multiple monitors are very handy and the key to using them is setting alerts (I'm using FXTrek Intellicharts now, not MT4 charts)

pt49

Aug 7, 2012 2:58am

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Growth in an emerging economy is very different to growth in an established economy.

Watch for the growth in the Iraqi economy over the next 4 to 10 years... it is conservatively projected to be 30+% per year for the next 2 to 3 years.

Exodus

Aug 7, 2012 8:19am

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Quoting Wein_sonic

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AUD super extremely overbought, you can see divergen stoch in daily,even monthly!!! target might be 1,00

Ignored

I cannot see AUDUSD overbought much. There is a bit of evidence on the daily chart but it is more showing that a retracement is due.

Weekly chart shows a flag pattern back to May last year and on that basis AU is as likely to continue to 1.08 as it is to break in any other direction.

I have 4 long positions in AudJpy which are all in profit, and all SL protected for no loss, and earning carry interest. I would like to add to these positions so if you would all please short the Aud then that would please me greatly.....

Quoting pt49

Disliked

man... we are off topic on the thread starter, but I guess the RBA didn't cause much stir anyways.

I managed to crash my system plenty of times running intensive tests on up to 20 platforms simulataneously running EA's with different settings (only proved to me that I'd be an idiot to use EA's on live accounts).

Multiple monitors are very handy and the key to using them is setting alerts (I'm using FXTrek Intellicharts now, not MT4 charts)

Ignored

I am struggling with only 3 screen, which is actually enough. I have two laptops, one for trading with an additional screen, and one for reading the news and wasting time on FF.

......20 platforms running EAs, wow!!

Robot Trader

Aug 6, 2012 11:57pm

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The growth in China has moderated to a more sustainable pace, so does this mean for the last 30 years China growth was never sustainable and only now at 7% it is. China's steel production is at an all time low, so how does the RBA think China will save the Aussie this time around.

Just wait for some real data to come out of China that is not fudged and we will see the AUD come crashing down and the RBA will have to reduce interest rates to stimulate exports to try and help offset the lost revenue from the mining sector.

But instead of waiting for the inevitable bad news from China the RBA should be proactive in lowering interest rates now to help kick start over export industries to help Australia's overall economy.

frx_trader

Aug 7, 2012 2:40am

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Quoting Robot Trader

Disliked

The growth in China has moderated to a more sustainable pace, so does this mean for the last 30 years China growth was never sustainable and only now at 7% it is.

Ignored

No, growth above 10% is unsustainable in normal case. Even 7% growth is high for a nation. I would think of growth of 4-6% to be sustainable.

Sarkel

Aug 7, 2012 8:26am

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Quoting Exodus

Disliked

I cannot see AUDUSD overbought much. There is a bit of evidence on the daily chart but it is more showing that a retracement is due.

Weekly chart shows a flag pattern back to May last year and on that basis AU is as likely to continue to 1.08 as it is to break in any other direction.

I have 4 long positions in AudJpy which are all in profit, and all SL protected for no loss, and earning carry interest. I would like to add to these positions so if you would all please short the Aud then that would please me greatly.....

Ignored

belief81

Aug 7, 2012 12:19am

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Quoting pt49

Disliked

You can have a multi screen setup quite cheaply... go to ebay and buy a nVidia Quadro series video card to plug into your board... I have 2 nVidia Quadro NVS 440 256MB PCI-E cards (can run 8 monitors) I paid $550 per card 8 years ago... today get em on eBay for $50 to $100.
The most expensive part of the setup is the monitors.

If you got a quad core box with a SSD to put em on, I'm envious.

Ignored

Is working 8 monitors??????? r u sure????

XTrade

Aug 7, 2012 11:44am

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Start? lol

Quoting jegas

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RBA interest unchanged is AUD/USD ,start bullish !

Ignored

pt49

Aug 7, 2012 1:45am

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Stoch's are only accurate in up to 5 min charts in my opinion, but looks like you must be short already... oh well.

pt49

Aug 7, 2012 2:06am

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not just an indicator... but a lagging indicator

pt49

Aug 7, 2012 3:03am

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... and Iraq is one of only a few countries in the world with a trade surplus currently, thanks to growing oil exports.

pt49

Aug 7, 2012 5:17am

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The only reason to worry about fundamentals is if you are position/swing traders... and I doubt you are

webart

Aug 6, 2012 11:36pm

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Another kick in the guts for Manufacturing, for exporters and for retailers trying to compete with cheap imports.

RBA doesn't care its all just theoretic modeling for them, meanwhile the Swiss will keep buying the Aussie up and up

webart

Aug 6, 2012 11:44pm

Permalink

Quoting pt49

Disliked

Sounds like you got a pretty good handle on the situation, so as a trader you must be making a million... I'm envious.

Ignored

Nah you will be making more than me with all of those screens

... I"M envious !

webart

Aug 7, 2012 12:56am

Permalink

Quoting pt49

Disliked

You can have a multi screen setup quite cheaply... go to ebay and buy a nVidia Quadro series video card to plug into your board... I have 2 nVidia Quadro NVS 440 256MB PCI-E cards (can run 8 monitors) I paid $550 per card 8 years ago... today get em on eBay for $50 to $100.
The most expensive part of the setup is the monitors.

If you got a quad core box with a SSD to put em on, I'm envious.

Ignored

Actually been there done that, now back at 2 monitors. I decided I can only really concentrate on 2 at a time. I think I had 5 running at one point using some software called Maxivista and some old Netbook / Laptops. Then I built an i7 2700k (OCed) in a Fractal Design case with OCZ Agility 3 120 Gig SSD, and it has 2 graphics cards in it, so I run 2 x 24inch plus a projector from it

It is a pleasure to work with.

What I would really like is something with more resolution, I get 2400x1600 from my 24inch AOC, but some higher would be better, that way I can run 5 min charts that also span a large time span ... but the cost of anything about 2400 is very very high.

jegas

Aug 6, 2012 11:34pm

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RBA interest unchanged is AUD/USD ,start bullish !

thelws

Aug 7, 2012 12:12am

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since most of you are going short, i'll go long! whee

upasna

Aug 6, 2012 11:41pm

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AUD is overbought it will be down only

ibram.forex

Aug 6, 2012 11:52pm

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Quoting upasna

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AUD is overbought it will be down only

Ignored

%100 right

belief81

Aug 7, 2012 12:17am

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Quoting upasna

Disliked

AUD is overbought it will be down only

Ignored

You told from last month but still AUD is up.........

sixfeetunder

Aug 6, 2012 11:52pm

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Look. Full disclosure I am short AUD by AUDUSD and EURAUD long around these levels. Here's the crux of the AUD is that it has suddenly turned into a way for institutions to gain a little bit of yield in the zero yield world we find ourselves in and it is deemed relatively safe when compared to other currencies. As long as China looks to be moderating, people (including the SNB) will go into the currency. When/if China slows more, people will leave the AUD. I am not looking for a daytrade here, I am looking for the next 2-3 months. good luck all

webart

Aug 6, 2012 11:58pm

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Yes the Swiss are using the Aussi to defend their own currency, so normal fundamentals are out the window at the moment, but yes China's strength / weakness is also a factor.

webart

Aug 7, 2012 9:16am

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Quoting pt49

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not just an indicator... but a lagging indicator

Ignored

I think he said Divergence on the stoch, a lil different than reading a stoch on its own.

hamad00

Aug 7, 2012 3:53am

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RBA statement showed some concerns about high Australian dollar

Wein_sonic

Aug 7, 2012 1:37am

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AUD super extremely overbought, you can see divergen stoch in daily,even monthly!!! target might be 1,00

Martin de

Aug 7, 2012 2:05am

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Quoting Guest

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hey people how do you see of precious metals??is it going up or down??

Ignored

finviz.com you can see what the metals are doing

Alter Native

Aug 7, 2012 12:01am

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Overbought, straight to 1,035 and less maybe

Faizan

Aug 7, 2012 12:06am

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Market is nt responding....... En curious whts wrong with it.

tvinothkumar

Aug 7, 2012 12:10am

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You can use EUR and European markets to sell against USD not GBP and AUD.

wildguess

Aug 7, 2012 12:14am

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Quoting Alter Native

Disliked

Overbought, straight to 1,035 and less maybe

Ignored

Don't ever judge the market, only prediction is allowed. As Boss is always right, so are markets.

Alter Native

Aug 7, 2012 12:17am

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Quoting wildguess

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Don't ever judge the market, only prediction is allowed. As Boss is always right, so are markets.

Ignored

Maybe, it's only my opinion, I'm not asking for any follower

Alter Native

Aug 7, 2012 12:21am

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Quoting Alter Native

Disliked

Maybe, it's only my opinion, I'm not asking for any follower

Ignored

But if goes down then it was overbought, right?

Trader#8D53

Aug 7, 2012 1:47am

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Remember guys..the AUD/USD still can go to 1.0800...but after 1.0800..its start to reverse...coz when the time come the price will change...stoch is just indicator..never telling u that its start to reverse..thanks

haridivya

Aug 7, 2012 2:30am

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i feel that some big players made pre - buying Aussie before the rate release

Trader#BD64

Aug 7, 2012 3:19am

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Is there any evidence of Swiss buying aud? I mean I'm not doubting it. The run up since June is out of whack with fundamental and I figure the Swiss need to do something with all the euro they are buying. But something weird is going on with risk. Big money mashing the buy button even in the face of unsupported fundamental. And not just slowing in China but also no qe anytime soon and the never ending euro crisis. I wont short any risk right now just because its out of whack. I can't find a reason to buy either cause u never know when reality will strike. Rather miss out on money than let the big guys steal it.