Posts by "callum"

Now that AUD/USD broken the 89 levels, it seems to be lined up well with Gold 1102 levels. Yesterday AUD/USD was around 100 pips higher to around same levels to Gold. It will be interesting to now see what every $10 drop in Gold does do the AUD. It be interesting to see if RBA or otherwise, would have much ammo to bid it back to the 90 handle, or perhaps the PPI data from Eurozone could potentially provide some light prop into the low 89 levels?

@AVG, congrats on your EUR/JPY short

RBA was propping / purchasing middle last year and their disclosed in December 2009 of their November activity where they become net-sellers of AUD last year. Evident at that time when the correlation broke with other ccy pairs and equity. As for today's trade, I also closed from my AUD/USD shorts around same area and looking at re-entry points at the next bid up. Where do you get money flows data? I once used a broker that had subscription to flows data, I don't use them anymore, but it was useful data.

@Pippedoff, what's your view on the speculators who prop the AUD pre RBA interest-rate announcement. I have observed a behavior whereby the AUD going-up ahead of the interest rate decision, and a total dump of the AUD on the day of announcement - hike or no-hike. How much of that you think is in play esp given relatively thin asian volumes this week? Also, I also am keen to get your observation upon the return of the post-Chinese New Year cycle and whether you see another spike in resources/AUD. I suppose if, for whatever reason, the AUD/USD manages to stay above 89/90 this week, next week's China comeback splurge could prop the AUD / USD into the NAB/Westpac 93 targets.

#Gold It be interesting to see if Gold breaks ~1124 which is the 3-Feb high. It's also approaching the upper B. band of 1123 on daily chart. I suppose a break above this would test 50% / 61.8% retracement levels off the peaks.