[B]Aussie outlook may not be that rosy[/B]
In spite of recent gains, spurred on by Chinese rate cuts and weak UK data, things could be about to turn against the Aud (and Nzd) especially if the Fed raise rates or signal they will so do soon
Australian Dollar Gains on the Pound as GBPAUD Test of 2.14 Fails
CPI news coming up in 10 minutes for AUD. I have a chance to exit my 2 positions right now for 100 pips profit. I’m going to stay in and see what happens.
Good decision to stay in.
Closed Position #1 at 2.1438 for +135 pips.
Position #2 active. SL set at +200 pips.
Yet another nice trade. I’ve move my SL to profit, price up to 2.15
10 hours to the Fed meeting and 12 to the RBNZ meeting, not expecting much change other in the rhetoric but, as this article suggests, next weeks RBA meeting might be a different kettle of fish
Forex - NZD/USD: Expected RBNZ Hold Decision Keeps Kiwi Losses in Check - WBP Online
Position #2 stopped at 2.14 for +200 pips.
I left a lot of pips on the table but still a good winner.
Wall St Journal don’t seem to have much faith in the Kiwi, regardless of which way the RBNZ goes
“With the Fed out of the way, the focus for NZD/USD is now on Thursday’s statement from the New Zealand central bank. “A cut today would likely sound the death-knell for the NZD near-term given the backdrop of a broadly stronger USD,” says BNZ’s Kymberly Martin. She notes even if the central bank remains on hold, the kiwi will be pressured by the greenback’s gains. It’s at US$0.6659 and BNZ continues to see it trading down to US$0.60 in early 2016”. ([email protected]; @FarroHoward)
RBNZ Governor Wheeler keeps rates as they are but cites concerns over recent Kiwi strength as possible reason for future cuts, saying
"This would require a lower interest rate path than would otherwise be the case,"
Basically confirming WSJ’s statement on my previous post
Price now 2.1640, profit locked in.
Fingers crossed it doesn’t retrace and take me out, I’m looking for min 500 pips here, preferably 1000.
Might seem an ambitious target but noone every reached for the stars while looking at their feet
[B]Aud dropping despite weak UK data[/B]
Although we didn’t get great data in the uk, a combination of low iron ore prices and a likely BoE rate hike early 2016 put more pressure on the Aud side if the GbpAud pair
Australian Dollar Rate Today: AUD Conversion Rates Lower After Iron Ore Prices Drop - Exchange Rates UK
Buy on the dip.
Long GbpAud at 2.1430 after Oz holds its rates
I’m in as well.
GBP/AUD Long at 2.1458
Nice 150 pip jump in m5 for GbpNzd following poor Nzd employment figures
In again.
Position #2: Long at 2.1361
GbpAud and GbpNzd both on the up again.
Your 2.1361 is about 150 pips up already
I initially had my buy order at 2.1320 for Position #2. I was watching the chart at the time and decided to enter manually around 2.1360 to make sure to get that second position. Good thing I did because the low was at 2.1342.
Now I’m hoping for a re-test of 2.1700.
Closed Position #1 at 2.1564 for +106 pips.
Position #2 is currently in profit for 205 pips. Set SL at +100 pips. May adjust SL upward before going to bed.
I removed my SL for Position #2.
I’m going to sit tight on the position and hope for the best from all of the GBP news coming up in about 1 hour.
I am in again:
Position #1: Closed 04-Nov for +106 pips
Position #2: Long at 2.1361
Position #3: Long at 2.1260
Currently no SL’s in place.
I’m also back in,
GbpNzd long at 2.298
Gbp Aud long at 2.131