AUD/USD

IMO - broker difference...

It depends? Birds of prey or not? lol ... 94598 is my hard line.

Yep, no doubt.

Don't know the stops for total shorts are less than -10 pips - I am cheap

Hi Davit, Could you explain to me as an unexperienced trader why high oil prices are pushing cad and aud? Thanks in advance! Michael

CAD produces oil, higher costs of oil means more profit for them. am not sure about AUD.

I told everyone it's going up.

CAD NZ AU are grouped together as commodity pairs.
Oil is number 1 Canadian export.Mostly to US. On AUD iron ore plays major factor and for NZ dollar dairy prices.
Both iron ore and dairy prices are falling hence my short bias on AU and NU.
Either you are short or long you must also factor time.AUD looks strong now but could be whole lot lower by Thurs or higher.

Not cheap bro, smart! Wish I had done that on those NU. I just reduced my exposure a little there by letting the worst two go. It's still pushing and darn near at my line. This one will sting a bit if she doesn't calm down, and come down. Whoops....

What kind of trader are you? Position, intraday?

this market is always testing your patience...excellence in money management makes it a lot easier to "stomach"...

I can avoid using stops entirely by adjusting the size like 3,000 or 5,000 pips per 1% of equity change. But I am not good at waiting for the price to comeback and it's visually disturbing and prefer instant gratification lol

I trade similarly without stops but do have SL which is factored in $$ not pips

Aussie about to make a move... 4hr is closing soon

OK, many thanks for the explanation :-)

EUR/AUD has bounced off 1.4400

< 36 is good for bears

Yeah I think we're all on the same page about stops but like Ken, I like to see profits a bit faster. Especially when the swaps suck...lol

@Michael, be careful with the correlation of Crude with CAD and CAD with AUD - they all are unique fundamental wise

June 23 (Bloomberg) -- Asian stocks climbed, with the regional index extending a six-week rally, the Australian dollar rallied and industrial metals gained as a measure of Chinese manufacturing unexpectedly signaled expansion. Crude oil advanced as Iraqi insurgents seized more territory.

The MSCI Asia Pacific Index gained 0.4 percent by 12:53 p.m. in Tokyo, following a 0.4 percent advance last week, when the measure reached a six-year high. Standard & Poor’s 500 Index futures added 0.2 percent. The so-called Aussie climbed to a two-month high versus the greenback, followed by the New Zealand and Canadian dollars. Copper advanced 0.7 percent, with a gauge of commodities heading for its longest streak of gains since 2010. Oil in New York and London extended last week’s gains.

China’s factory activity is increasing for the first time since December, with a preliminary purchasing manager’s index rising to 50.8, HSBC Holdings Plc and Markit Ltd. said. A level below 50 signals contraction. A similar gauge in Japan showed faster-than-estimated growth, with measures for the U.S., and the euro area to follow. Fighters from an al-Qaeda breakaway group seized all Iraq’s border crossings with Jordan and Syria.

“The Chinese data is looking much better, definitely better than my expectation,” Pauline Dan, who helps manage $153 billion as the Hong Kong-based head of greater China equities at Pictet Asset Management Ltd., said by phone. “The government is trying to maintain economic momentum, fine-tuning monetary policy to achieve the 7.5 percent growth target this year. Relative to the region, definitely Chinese stocks are looking attractive. We have been nibbling.”

Topix Pares

The Hang Seng Index and a gauge of Chinese shares in Hong Kong advanced 0.3 percent. The Shanghai Composite Index was little changed, while a measure of stocks in the southern city of Shenzhen jumped 1 percent. The yuan strengthened a third day, adding 0.04 percent to 6.2238 per dollar in Shanghai, according to China Foreign Exchange Trade System prices. The People’s Bank of China weakened the currency’s daily fixing by 0.05 percent today to 6.1557.

Economists surveyed by Bloomberg predicted the so-called flash PMI number for China would come in at 49.7 for June, up from 49.4 in May and set for the third straight monthly increase. A similar gauge for the U.S. is forecast to fall to 56, while manufacturing in the euro area probably held at 52.2. A gauge of services in the 18-nation bloc is also due today.

Australia’s S&P/ASX 200 Index increased 0.6 percent while the local currency climbed as much as 0.6 percent to 94.44 U.S. cents, the highest since April 10. New Zealand’s dollar added 0.4 percent and Canada’s so-called loonie strengthened 0.3 percent. China is Australia and New Zealand’s largest trading partner and Canada’s No. 2.

Global Equities

Seoul’s Kospi gauge increased 0.4 percent. Japan’s Topix index fluctuated after five weeks of gains. Japan’s flash PMI for June was 51.1, up from 49.9 in May and ahead of the 50.1 predicted by economists.

The value of global stocks reached a record $65.05 trillion last week as the Federal Reserve signaled interest rates would remain low even as the U.S. economic recovery accelerates. The MSCI Asia Pacific gauge traded at 13.4 times estimated earnings for member companies June 19, the most expensive level this year, data compiled by Bloomberg show. The index had a valuation of 13.3 today.

“We’ve had a protracted period of sub-50 PMIs in China and I expect that’s probably nearly over and we are going to move into the period of plus-50 in the second half of this year and that will be viewed fairly positively,” Tim Schroeders, who helps oversee $1 billion of equities at Pengana Capital Ltd. in Melbourne, said by phone today. “We’ve obviously got some X factors in terms of what’s going on in Iraq and Ukraine. Investors are watching what’s happening there very closely, particularly with regard to oil prices and inflation.”

Commodities Advance

The S&P GSCI Spot Index of commodity prices gained 0.3 percent to 670.90, the highest since Aug. 28. The measure has gained for eight straight days, equaling a streak that ended on Nov. 10, 2010.

Copper for three-month delivery on the London Metal Exchange advanced to $6,867.75 a metric ton, after capping a weekly advance of 2.5 percent, the first in four weeks and the most since the end of March. Nickel climbed 0.8 percent after three declining days, trading at $18,550 a ton. Tin swung to a gain of 0.2 percent and zinc was little changed.

Silver, Gold

Silver slipped 0.4 percent to $20.7844 an ounce following last week’s 6 percent surge, the biggest weekly gain since February. Platinum slid 0.4 percent to $1,451.75 an ounce after snapping a three-week drop to rise 1.5 percent last week. Gold, regarded as a haven and store of value, dropped 0.2 percent to $1,312.29 an ounce. The precious metal slipped 0.4 percent June 20, trimming its third consecutive weekly climb to 3 percent, the most since March.

West Texas Intermediate oil rose 0.3 percent to $107.15 a barrel as Brent crude futures climbed 0.3 percent to $115.15. WTI added 0.7 percent June 20, capping a weekly advance of 0.6 percent, while Brent jumped 2.1 percent in the week as the U.S. said it would send military advisers to Iraq, OPEC’s second-biggest oil producer.

Fighters from the Islamic State in Iraq and the Levant, an al-Qaeda splinter group, now control the border crossings, Hameed Ahmed Hashim, a member of Iraq’s Anbar provincial council, said by phone yesterday. Militants took Rutba, about 145 kilometers (90 miles) east of the Jordanian border, Faleh al-Issawi, deputy chief of the council, also said by phone. U.S. President Barack Obama warned that unrest could spread into neighboring nations.

Vladimir Putin, president of Russia, the world’s biggest energy exporter, voiced support June 21 for a cease-fire in Ukraine declared by the former Soviet republic’s new president, Petro Poroshenko. Putin said, however, that the week-long truce shouldn’t be an ultimatum to militia groups and won’t be “viable or realistic,” without steps to start negotiations with rebel leaders in Ukraine’s southeast regions.