» Forex Trading Strategy: Australian Dollar

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Forex Trading Strategy: Australian Dollar

Aussie dollar gains in currency tradingForex trading strategy should consider that a weak US dollar usually lends support to the Australian dollar. This is because the Aussie dollar and its performance is currency trading on the FX market is closely tied to gold prices. Bloomberg reports on forex trading strategy and the Australian dollar:

“Metals prices are up so that’s supporting the Australian dollar,” said Richard Grace, chief currency strategist at Commonwealth Bank of Australia, the nation’s second-largest. “It’s difficult to be bearish on the Australian dollar while the U.S. dollar continues to soften.”

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This entry was posted on Thursday, March 27th, 2008 at 13:11 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Forex Trading Strategy: Australian Dollar

Currency trading with the AussieWhen formulating forex trading strategy for the Australian dollar, it is worth noting that the economic indicators are still in favor of expansion by the down under currency. Recent unemployment figures are down, signaling continued job creation and economic growth. Bloomberg reports on currency trading with the Aussie:

“The report was supportive for the Australian dollar,” said Richard Grace, chief currency strategist at Commonwealth Bank of Australia in Sydney. “That shows the economy is continuing to create jobs. It’s a good support mechanism for the economy.”

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Source : GFT Forex

This entry was posted on Thursday, January 17th, 2008 at 15:08 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Forex Trading Strategy: Australian Dollar

Aussie in currency trading on the FX marketThe Aussie is expected to continue to gain in currency trading on the FX market. Forex trading strategy involving the Australian dollar should consider that it is supported by gains by commodities, as well as the carry trade due to Australia’s high yield. The Australian reports on the Aussie in currency trading:

Also helping the Australian dollar was a moderate Japanese return to the US and euro via yen carry trades.

The flows pushed the Australian currency up against lower-yielding currencies such as the yen and US dollar.

Short-term resistance for the $A is now about US88c, with a second level near US88.5c.

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Source : GFT Forex

This entry was posted on Tuesday, January 8th, 2008 at 14:45 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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Forex Trading Strategy: Australian Dollar

Aussie looks good in currency trading on the FX marketThe forex trading strategy for the Australian dollar should consider that the Aussie is looking good. With economic weakness likely to force another interest rate cut in the U.S., the Aussie is likely to gain a currency trading advantage on yield, putting back into the 90 cents against the U.S. dollar. Bloomberg reports on the Aussie in currency trading on the FX market:

The Australian dollar headed for a third weekly advance as overseas investors were lured to the nation’s debt after the two-year bond yield advantage over the U.S. reached the widest in 16 years.

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Source : GFT Forex

This entry was posted on Friday, January 4th, 2008 at 16:05 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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