AUD/USD Testing Key 0.9193

The Aussie had a volatile day yesterday as the morning began with risk aversion but ended on a positive note. Stocks in U.S. managed to close higher, driving the S&P 500 to its highest level since October 2008.
A stronger-than-expected Chinese inflation number yesterday fueled concern that China may increase interest rates to cool its economy. [...]

RBNZ to begin removing policy stimulus around the middle of 2010

“The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 2.5 percent.
Reserve Bank Governor Alan Bollard said: “The New Zealand economy is recovering broadly as expected and growth is predicted to pick-up further through 2010.
“Trading partner activity has recovered a little faster than expected. Currently, growth is strongest in China, Australia, and emerging [...]

Intraday Market Update

The U.S. session is experiencing a roller coaster ride, with the majors breaking out higher at the open to then reverse most gains as stocks retreated. Currently, the majors are recouping some of the lost ground as equities are once again edging into positive territory.
The Aussie had the strongest reversal as sellers were already lined [...]

AUD/USD Breaks Above 0.9172

The Aussie rose to the entry level at 0.9170 and retraced slightly just shy off the first target at 0.9150. The entry coincided with the 78.6% retracement level move from 0.9333 to 0.8581. View original analysis here.
Once the trade was in positive territory, we issued a call to move stop to break even.
Bullish bias [...]

When there is no one to blame

When there is no one to blame, speculators are usually the ones that take the hit. But is rather ironic that speculators have nothing to do with managing a country and creating the huge deficits we are now in presence of. Managers of companies and governments are the ones that should be hold responsible for [...]

Chinese export data pressures yen

A year after the weakest close for global equity prices, risk appetite has very much returned to the agenda. Stock prices are 60% or so higher from the bottoms reached in March 2009. Of course at the time no one knew it was the bottom and subsequently investors have climbed that so-called “wall of worry.”
As [...]

GBP/USD Support at 1.4873

The Pound extended losses below the 1.4900 level following negative UK economic data.
Manufacturing and industrial production were both below analysts estimates, printing at -0.9% and -0.3% compared to the +0.3% and +0.2% consensus, respectively.
GBP/USD dropped to 1.4873, the 78.6% Fib. retracement level (1.4785 to 1.5197), and is finding slight demand in this area.
Bias remains to [...]

(Update) AUD/USD Near Key 0.9172 Resistance

*Update: Order entered at 0.9170. Bias looks quite bullish move stops to break even.
The Aussie rose sharply in the NY session breaking strong resistance levels and clearing stops above the 0.9130 area.
The pair began the morning at 0.9060 and closed higher by 80 pips at 0.9140. Currencies took queue from stock markets which spurred risk [...]

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