Australian miracle ending, Dollar sell off not finished yet

By Greg McKenna May was a big month for me – I made some big calls which, as we enter June I am more convinced in then even at the time I first made them. The first big call was the question of whether or not Australia might be facing a recession which I posed […]

Why is the Australian Dollar up this morning?

As I write the Australian Dollar is up 0.62% to 0.9819 after making a low last week around 0.9690. Indeed the Aussie has, ever so slightly, broken through the top of the hourly downtrend channel it has been in since the run toward 1.05 in late April. Now it’s only 6.30 in the morning and […]

Markets – Time for a bounce?

On Saturday morning I sat down and wrote the Trading week wrap over at MacroBusiness where I looked at a number of markets and what the price action and thus the technicals, mostly, suggested about the near term direction. After a week like last week I expected to have my bearish bias reinforced but by […]

Market Rout Intensifies

I’ve posted the links and the MacroBusiness morning over at MacroBusiness today and I wanted to highlight a few things. Firstly, after a brief hiatus in Asian trade yesterday the selling returned with a vengeance overnight in equity markets as the pending Euro implosion gather steam. Indeed UK Prime Minister David Cameron ratcheted up the […]

Australian Dollar to 90 cents?

As a mate of mine just said to me – the Aussie Dollar looks like a lead canoe this morning and my thoughts on it heading below parity remain undiminished. Here is the chart of how it looks at present and nothing in the fundamental outlook has changed from the piece I wrote the other […]

Australian Dollar Breakdown – Bulls run away.

Cross posted with MacroBusiness. The confluence of events over the past week has taken the wind from the Australian Dollar’s sails and contributed to the drop through support in a manner that suggests this move has further to run.  Indeed I have been calling it back below parity for some time now – we just […]

Aussie Dollar – not drowning waving

The Australian dollar is doing exceptionally well all things considered – it’s a fair to say that with the weakening Australian profile that prompted the RBA to cut rates this week we could have probably expected that the Aussie would at least retest the very important support zone at 1.0220/40. Tonight the key short term region is […]

Australian Dollar – break out or just another head fake?

The Aussie Dollar has rallied strongly over the course of the last week. Indeed over the past few weeks we have had the Aussie test and hold important Fibonacci support in the 1.0220/40 region a couple of times and closed the week closing in on 1.05. So the question I ask myself is this another head fake […]

O trend O trend where for art thou – Australian Dollar trapped.

BULA! – First post for a little while as I’ve been in Fiji with the family during the New South Wales school holidays and even though Mother nature hit the islands hard the Fijians have bounced back strongly and are at their convivial best. The infrastructure still needs some work and hopefully the Australian Government […]

Ugly Chart Contest: Trend Breakers

Reblogged from Global Macro Monitor: It’s gettin’ ugly out there again, folks. (click here if chart is not observable) This is a really interesting post from the guys at MacroMon and markets are certainly getting that May feeling about them even though its only April. The Australian Dollar needs to hold above 1.0240 for it […]