Intraday Market Thoughts

Aussie or Sterling?

by Ashraf Laidi
Jul 2, 2014 20:16

Both AUDUSD and GBPUSD have rallyied but which of the two pushes us to issue a fresh long trade with 2 charts in the latest Premium Insights.  6 days after our 2nd AUDUSD long hit its final target for a +200-pip gain, and 8 weeks after our existing GBPUSD hits 300 pips (final target at 1.6180) our Premium clients ask the question. With our existing EURAUD short currently netting +120 pips, we revisit these currencies. Tonight's release of the May Aussie retail sales may show a slight slowdown but the release of the May building approvals is expected to show an increase/improvement on both the month/month and year/year series. All our existing trades and charts are in the latest Premium Insights.

Act Exp Prev GMT
Retail Sales (MAY) (m/m)
0.0% 0.2% Jul 03 1:30
Building Approvals (MAY) (m/m)
3.1% -5.6% Jul 03 1:30
Building Approvals (MAY) (y/y)
8.0% 1.1% Jul 03 1:30

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