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MONDAY 15TH DECEMBER 2008
Ranges NZD/USD: 5360/5567 AUD/USD: 6452/6798 NZD/AUD: 8173/8357 Last weekNice rangy week last week, with the market starting to wind down nicely into Christmas. It’s been the most wild year in FX ever and most traders are happy to call it a year, and this is been shown in the lack of interest out there. One good thing, is that the Dow seems to have settled nicely and even weak US data is having little effect. This weak data is actually pushing Kiwi and AUD higher as the Dollar weakens; where as for the last few months all the currencies would have taken a beating on the back of the weak Dow. I’m loath to say it, but it looks like we might have seen the bottom in both AUD and Kiwi and perhaps even the Dow. What we didTraded NZD range nicely in small amounts Looked to sell Kiwi against the AUD but didn’t get set. This weekWell I know we say it a lot, but, we think more of the same. Getting more confident on buying on dips now, and selling US dollars on rallies for the above reasons. Lots of US data out early in the week that will be watched carefully, but I really think the market has slipped into holiday mode. US interest rate decision will be interesting to say the least, will they or wont they cut again? Probably, but not as much as they have of late. This weekOverall, I like buying Kiwi and trading the above range in the Kiwi/AUD Sell USD/JPY on rallies above 91.25 Monday 15th Dec Tuesday 16th Dec Wednesday 17th Dec Thursday 18th Dec Friday 19th Dec |
