Posts by "putko mafani"

0603 GMT [Dow Jones] A surging AUD/USD could be in for a rough start to 2011 as a set of January bond auctions on the other side of the world loom. With another jump in the past week, the AUD/USD is one of the strongest crosses for the year, hitting 1.0197 Thursday, its highest level since being floated in 1983. And though an ongoing mining boom, robust labor market and central bank still in tightening mode make a sell-off unlikely, some US$106 billion of euro-zone debt auctions could hit the cross hard. "There are a lot of bond auctions skedded for January, and those are milestones that loom incredibly large in Australia," says Gareth Berry, director of foreign exchange strategy for UBS in Singapore. "Those will highlight serious euro-zone issues and an uptick in risk aversion." Berry targets the pair at 0.9300 by the end of 1Q, while other forecasts range from 0.90-1.02.

@forextrader

These type of traders are called kamikazes. Their weapon (high leverage) will either kill them or reward them with high % profit.

I smell a big reversal brewing in CHF. USDCHF could well be heading twds 1.0000 again, respectively EURCHF twds 1.3200 at least.

Thanks Ashraf for the clarification. Indeed it was WB president.
EURCHF giving buy signal on hourly chart.

Dave, nice point. I had to figure out earlier that Nixon is the ultimate cause of the current financial mess. ;)