AUD/USD shorts were the best trade this week




The Australian dollar was quietly the worst balance sheet

The new zealand dollar has been affected by political unrest, the Canadian dollar, such as gestures by a dovish central bank, but it was the Australian dollar, which have underperformed the market this week, with 2% loss.

5-day FX-performance:

The AUD decline is due in part to a lack of T3 in the CPI. The consensus was 2.0% rise in the trimmed mean, but it rose just 1.8% y/y.

On the other side of the equation is the strong U.S. dollar. It has been stimulated by strong economic data, the reduction of the tax advances and talk of John Taylor, the next president of the Fed.

Technically, the AUD/USD has fallen for six consecutive days. Shorts had a break Wednesday, when the October low was sold.

For the future, there is always the light of the day between the current levels and support at the July lows. The target of the head-and-shoulders pattern also saves around 0.7400.



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