AUDUSD Higher
Trying AUDUSD higher here.
We have a double bottom that formed a couple of weeks ago.
the narrative has shifted, everything that was benefitting the USD has now stale/no longer helping. The market has priced in a peak fed in terms of hawkishness/rates, us yields have fallen quite a lot, US data is decent but very mixed. As far as i can see the USD is benefitting at the moment from it's safe haven status but with Yellen helping ease worries last night saying that further action can be taken to keep deposits safe i think this should slowly ease. AUD is underpriced i believe, we still have china growth coming, AUD labour data has been good and overall the AUD economy is performing relatively well.
correlations suggest higher, rate differentials are higher, copper is performing well and i am expecting a risk on mood once the worries about banking eases.
sentiment is extremely low which should help limit downside movement.
Not trading/investment advise, feedback welcome!
We have a double bottom that formed a couple of weeks ago.
the narrative has shifted, everything that was benefitting the USD has now stale/no longer helping. The market has priced in a peak fed in terms of hawkishness/rates, us yields have fallen quite a lot, US data is decent but very mixed. As far as i can see the USD is benefitting at the moment from it's safe haven status but with Yellen helping ease worries last night saying that further action can be taken to keep deposits safe i think this should slowly ease. AUD is underpriced i believe, we still have china growth coming, AUD labour data has been good and overall the AUD economy is performing relatively well.
correlations suggest higher, rate differentials are higher, copper is performing well and i am expecting a risk on mood once the worries about banking eases.
sentiment is extremely low which should help limit downside movement.
Not trading/investment advise, feedback welcome!
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