If not amounts I will be quite interested to find out what happens
0.7580
0.7450
GL
If not amounts I will be quite interested to find out what happens
0.7580
0.7450
GL
FOMC put its tone to 2 rate rise this year.Originally Posted by ;
Macquarie is telling us 80cents within a quarter and then an AUD downturn.
Http://www.smh.com.au/business/marke...17-gnlopx.html
What else does Fed have in this round of currency battle? Is RBA going say something for Australia's economic shift to tourism industry?
Nevertheless AUD closed yesterday over past high....
Which are the real drivers to exchange rates nowadays?
Http://www.bloomberg.com/quote/DXY:CUR
btw, does anybody know a greater public connection for US Dollar Index SPOT live chart?
Many thanks and Decent luck all : )
my viewOriginally Posted by ;
it could be trap for the buy on aud better out and wait to where it heads , sell trap well I figure what goes up has to come down for the retrace
Hi ,Originally Posted by ;
I am also thinking the exact same. China and Japan are the 2 major trading partners (combined around 50 percent of total australian exports). It is just matter of time once the troubles these 2 countries are having will influence their major partners or countries that are economically interconnected. One of those things to watch today is commodity prices, particularly metals.
From tech point of view the up trend appears strong and healthy today. Bull was almost brought to its knees but fomc spared the day and I believe there is nothing could block the bull until a significant bearish event. We're in autopilot mode currently.
GM TOriginally Posted by ;
I propose utilizing my pivot.Great tool showing key zones 61 78 100 R/S from weekly pivot
Notice rejection by 78R
Most traders are unaware of 78.6Fib which is square root of 618. Scott Carney a harmonic master detected this.
regards
https://www.nigeriaforextrading.com/...0807086961.mq4
generally agree but not certain if we are trading around the large.Originally Posted by ;
Brief on many aud pairs.
Thanks , pivots look fairly accurate. Sadly I use the most base platform and can not apply the connected right now, but I am certain others will produce a use of this. I will save itOriginally Posted by ;
I have been doing a bit of research into the upswing in the iron ore price, which has grown appx. 29% this year, also is a major contributor to Australia's economy, and other members here have noticed that the AUD/USD price has a close correlation to it. I have discovered quite a few articles printed in the last few weeks, and will attach links here to three. The overall consensus is that the rise is expected to be very short term, also is due to the simple fact that there is currently a dip in China's housing market, which is predicted to last during the first half of this year, and that is fantastic for the cement and steel businesses there. Following is a quote from 1 article While the current rally in the iron ore prices and has been partially brought on by speculative activity in the futures market, the pickup in China's housing market and Beijing's more supportive economic policy can also be seen as a variable.
Read more: http://www.afr.com/real-estate/resid...#ixzz43IPbTat5
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Here's a quote from another The problem is the fundamentals for the iron ore market remain horrible. Through time, short term Chinese stimulation attempts have had a big impact on the iron ore price. But after the stimulation wears off, the price fades.
Another variable regarded as contributing to the growth in the AUD is that the simple fact that Australia's interest rate construction (currently 2%) looks good compared to the adverse rates in Japan and Europe, so there is currently an inflow of cash. And no doubt Glen Stevens has noticed that fact and will factor it into deliberations about future interest rate moves.
Also, the other metals have risen sharply this year, however as with iron ore, there is still too much supply, and a lot of the rise appears to be speculative. Shares in certain large mining companies such as Anglo, Glencore and Freeport (maybe not RIO or BHP) have experienced rises of as much as 60-80% up to now THIS YEAR. These climbs in metal prices and mining companie's share prices look good on the outside to Australia, so much of it's income comes from the gas and mining sectors.
But the majority of the metals are still in oversupply, such as iron ore. And gas prices are a manifestation of the oil business, which is in oversupply, but due to current optimism of future supply reductions, they're rising. So that the growth in prices is likely to be short term, as is the growth in the share prices of their mining companies and oil companies.
In summary, until Australia drops interest rates (and also the increasing dollar is currently exerting pressure for the Fed to do exactly that) and until commodity prices once more reflect true supply and demand requirements, we have a rising Aussie dollar. However, the foundation of that rise is sand. As so many members here have noticed, the rise does not reflect fundamentals. But if you link to those links I have provided here, then you'll find a better picture of why we have a short-medium term rise, which in my opinion is putting us up for a much bigger fall.
But short term the AUD/USD tendency is up, so I'll buy the dips, but will pile on the shorts once the lows are removed.
http://www.dailyreckoning.com.au/iro...ip/2016/03/07/
http://www.mining.com/march-mining-m...-prices-surge/