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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3119
Forum Topic:

Commodity FX (CAD AUD NZD NOK)

Discuss Commodity FX (CAD AUD NZD NOK)
 
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Rob
New York, United States
Posts: 305
14 years ago
Mar 1, 2010 15:44
Hi Ashraf,

Any thoughts about whether the BoC will be hawkish or dovish tomorrow morning. I went long USD/CAD just below the 1.0470 support mentioned in the IMT. Perhaps I was a bit premature, although the support seems to be holding somewhat; we'll see. Thanks.
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 15:26
I'm also playing Aussie short through Ashraf's AUDNZD call.

However, I have to be careful with this pair as my trading platform with $1,000 lot sizes carries a 20-pip spread on AUDNZD (criminal!), while my platform with $10,000 lot sizes carries an 8-11 pip spread. I am not willing to place more than one lot in the $10,000 platform, and I have a hard time handing my hard-earned money to the $1,000 platform so they can pay themselves with a 20-pip spread.
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 15:19
@cool-mid to high 0.90z. depends how high the RBA bids it leading into the interest rate decision. It's already back to 0.8985, after falling to 0.8940 from 0.9010 pre-GBPUSD destruction.

I played a little long here, but took m y profits quickly. This is an overvalued pair which will get it's own sharp downplay in due time. You must be nimble on this one and USDCAD and Gold.

Also, don't forget the Westpac WEATHERMEN and HOMER ANALYSTS swill be pounding the table for Aussie come pre-Asia (Sydney) trading session later. I will let them pimp aussie higher, and partake in their Pump 'N Dump tactics.
coolshades
UK
Posts: 53
14 years ago
Mar 1, 2010 14:53
pipped,

what level are you looking to sell audusd
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 13:53
mistake on last post. Closed USDCAD AT 1.0548 pre- CAD GDP.
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 13:53
@chloe-I also have put on a very small USDCAD long here at 1.0480. I am waiting for the dust to settle, plus I believe their will be an Aussie-led risk rally at some point in the next 24-hours.

I closed my original USDCAD at 1.0448 about 1-1/2 hours ago pre-Cad GDP. I siclosed it here or on another forum thread at thew time, along with closing some short gold on a position trade.
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 13:45
I made the correct call on USDCAD. Now where to get in? 1.0480 and sinking....
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 12:52
@chloe-I am flat USDCAD after closing my long position for a small profit. I am a bit weary of the CAD GDP numbers coming out in loess than an hour, and I didn't like the way the pair traded with all the devastation from cable. I would have suspected USDCAD to go higher. However, I am sure some are frontrunning the CAD GDP and have been buying loonie ahead of it. I will see how the pair trades after the report is released at 8:30 NYT.

Also, I expect another run-up on the "risk" assets as everyone gets lathered about the RBA meeting tomorrow at 4:30 NYT.

Can't wait to see our friends the Westpac WEATHERMEN pounding the table on Aussie!
PippedOff
Canada
Posted Anonymously
14 years ago
Mar 1, 2010 3:56
@chloe-yeah, fantastic hockey game, and curling match yesterday too.

Gold may rise into the RBA announcement early Wednesday, but then it is "Katie-Bar-The Door" for the decent sub-1100 to 1040 and lower,
chloethebull
Posted Anonymously
14 years ago
Mar 1, 2010 3:43
@pippedoff me to i just added usdcad @1.0510..plus gold @ 1118 might add more if we get over 1120..did u watch can usa in hockey? great game syd the kid is from my home town..gl talk soon
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