Tag Archives: australian dollar bounce

Australian Dollar failing at resistance

June 19, 2012

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Last night’s price action in the Euro and the US Dollar suggested, quite rightly, that the market remains worried about Spain. Indeed the Spanish 10 year yield closed at 7.16% and the Euro fell back from the Asian highs. The Australian Dollar on the other hand has been holding in really well and sits just […]

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Contrarian View – Australian Dollar and Euro vulnerable to a squeeze higher

June 13, 2012

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When I did links this morning over at Macro Business I posted an article noting that US money continued to flow out of Europe last month. I also saw that the Euro was back above 1.25 and the Aussie Dollar was around 0.9950. Chart courtesy of AVAFX Mobile off my iPhone Given the European malaise […]

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Australian Dollar Rally ends – Bernanke steals the punch bowl

June 8, 2012

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Ben Bernanke stole the punch bowl for commodities and commodity currencies last night which had rallied on the back of the Chinese rate cuts and freeing up of deposit and lending rate controls. But the Fed Chairman with his usual equanimity simply didn’t want to play ball and add more stimulus and markets were no […]

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On the RBA, GDP and the Australian Dollar

June 7, 2012

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I haven’t posted much this week as I have been busy so please don’t think I’ve been dodging my recession call in the wake of yesterday’s stellar GDP release. I’m about to hit the road so here are some quick thoughts. On the current market bounce: The markets good too bearish, priced too much in […]

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RBA rate cut – 25 or 50 points.

June 5, 2012

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I think by now its clear that the RBA went 50 basis points last month because it knew that the economy needed some monetary stimulus but equally that the Banks were going to hold some back. The Majors were actually more generous in passing on a big proportion of the cuts than some of the […]

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US Jobs data hits markets – Aussie Dollar and Euro bounce

June 4, 2012

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By Greg McKenna Stocks plunged more than 2 percent in the US on Friday as the release of a terribly low non-farm payrolls result of just 69,000 and an uptick in the unemployment rate suggest that the US recovery is faltering. The Dow has been dragged into negative territory for the year now and the […]

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Why is the Australian Dollar up this morning?

May 28, 2012

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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 […]

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Australian Dollar oversold?

May 23, 2012

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I am not walking away from my call on May 9th  that the Australian Dollar is going to head toward 90 cents but there seems something wrong with today’s very aggressive selling which has knocked it all the way to a low of 0.9742. Sure it is broad based USD strength in Asian trade today, Gold […]

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Markets – Time for a bounce?

May 21, 2012

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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 […]

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Market Rout Intensifies

May 18, 2012

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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 […]

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