As we mentioned earlier this morning, all the weak stops were triggered in the AUD/USD below .7875 last night in early Europe and now there are lots of buyers emerging from the woodwork. The AUD/USD has jumped from .7880 to .7930 already this morning and one dealer I spoke with sees it going to .8025 today. I must say I’m not all that bullish AUD but then again I’m not seeing the flows.
Lots of buyers in the AUD/USD
Source: www.forexlive.com
Read more...
Chinese President in Russia for BRIC meeting
President Hu Jintao is in Russia for meetings with Brazil, India and Russia. We can expect to see and hear more of the same confirmation that the USD is still the accepted global reserve currency but that some diversification is needed in coming...
Dukascopy Afternoon Forex Overview - Oct 6 2009
Previous session overview The dollar dropped overnight Tuesday as the Reserve Bank of Australia hiked interest rates, the first G20 country to do so, putting added pressure on the low-yielding greenback. The rate hike comes at a time when U.S. interest rates are still ultra-low, making the dollar...
A note of USD/CHF optimization.
The USD/CHF optimization note originally posted on May 29 has been updated to correct for a mistake in the data selection. Originally, 1 out of 6 runs used for the analysis (17% of the traders considered) contained USD/CAD while others contained USD/CHF data. As a result, some of the optimization...
Brazil Unexpectedly Slashes Interest Rates
In an age where central bankers are attempting to increase transparency in the policy making decision process the Brazilian central bank gave a...
Forex Technical Update - Forex Trading, Currency Forecast, FX ...
Forex Technical Update Euro plunged close to 220 pips yesterday breaking key supports. The 4-hourly charts are oversold with support coming at 1.4040 (55 4-hourly EMA) and then at 1.3865 (21 Daily EMA). Holding above 1.3850 can bring a ... Forex Fundamental Analysis Reports... -...