Shutterstock photo
Markets

Aussie dollar trade update

Shutterstock photo

Shutterstock photo

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: http://www.photoxpress.com/search-stock-photos-photographer/Stephen+Gibson/326772 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Stocks

Latest Markets Videos