On Dec12, 2013 at 8:31 EST I didn’t see any fundamental or so, but all of a sudden AUDUSD drop for about 70 pips in just 3 minutes.
What’s happening? Any info and for study will be greatly appreciated.
Hi … apparently the reason for this sudden drop are comments from Bank of Australia Governor Glenn Stevens about preferring AUDUSD rate around 0.85.
Forex: AUD/USD Dives Below $0.9000 as RBA Suggests it Prefers $0.8500 | DailyFX
I got a little burnt on this :56:
Bad time of year - less volume, lots of whip saws - many will not trade in these conditions.
Reuters today:
Trading volumes against both the dollar and the euro were below average levels recorded over the past month, according to data from the Reuters dealing platform, meaning price moves may be exaggerated.
Note that Reuters were reporting on GBP strength today at 11.40 gmt - just in time to see a 90 pip fall - that’s thin volume.
Growth expectations help sterling rebound, key data next week | Reuters
Thanks Cq Pips for the clarification. Btw you got a little burnt on this?
Aahhh…you better watch out, you better not cry. Hopefully this is just the first noel–not another whipsaw.
gladly i was not entangled in the pair, but its where news comes into the game which changes the whole scenario in a glimpse…
Some say Stevens was misquoted. Eh, it worked anyway. Hopefully we’re on the other side of the trades the next time these types of reports come out cross fingers