Tag Archives: australian dollar crash

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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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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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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Australian miracle ending, Dollar sell off not finished yet

June 1, 2012

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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 […]

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Sell in May – Markets have a shocker

June 1, 2012

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By Greg McKenna We saw a bit of position squaring yesterday for month end after assets like the Aussie Dollar made a fresh low for the year before rallying. Likewise in US equities the early weakness gave way to a better performance but by the end of play the pressure was unable to be withstood […]

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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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Market rout continues – thoughts on current market turmoil

May 15, 2012

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Morning – I am covering both Morning Links and the MacroBusiness morning this week and I thought that this mornings market wrap might be instructive as to my thoughts on the markets more broadly for those who follow my thoughts. Here is the link to MacroBusiness morning but in summary this sell off looks to […]

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