Back to Main

Aussie dollar trade update

By: Emerging Money
Posted: 7/3/2013 11:23:00 AM
Referenced Stocks:

Aussie Dollar ( FXA , quote ):  On Monday I indicated that you could take some profits on the Aussie dollar and put the short back on at .93050 area.

Image courtesy Stephen Gibson: I was wrong.  After one day of a pop the Aussie dollar has continued its descent.

Stay short in this trade and getting too cute on levels is something I also warn against.

There is a lot of volatility in the FX markets these days as a result of BOJ, FED and macro flows unwinding.

The AUD is right in the middle of these cross-currents and bottom line is nothing has changed fundamentally to support the AUD.