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Monday 3rd November 2008 Ranges Nzd 5364/5895 Aud 6010/6880 Nzdaud 8625/9070 Lastweek The week was all about the rebound in almost everything. With rate cuts abounding and central banks talking up stability , we finnaly saw some. Aud, Kiwi and Euro rallied hard against the Dollar as the market took stock of recent falls and the dow toed the line at last. We have seen some of the most amazing volatility that the market has ever seen and this has been reflected in our deal size, our average deal size is now a quarter of what it was before all this happened. Sleep has become a thing of the past for us here, but that comes with the territory when you trade FX. I pity the poor person on the street who is doing this part time in their own name, and holding down a full time job. I just hope that they aren’t driving petrol tankers around. What we did Bought AUD and Kiwi and stayed long for the most part of the rally NZD/AUD once things have settled down, we are staying tinny short This week Massive week ahead, two elections, 3 central bank rate cut meetings, non farm payrolls in the States and a myriad of other data releases, makes the coming week an immense challange. Strap on the full racing harness, it's going to be a ride; a great big rought one - but volatility is your friend and we look forward to making it a profitable one. The key will again be the stock markets, and everyone will be keen to see the seesaw of late settle down abit. The consildation of these gains of late will be important and much appreciated by the world. I get the feeling that we are starting to see the fruits of the central banks labours coming through. Lets hope that we have seen the worst of it, I think we have, they have done enough. What we will do
Stay square in all curriencies and look for big moves to take advantage of bad liquidty DATA OUT FOR THE WEEK
Monday 3rd Nov
AUS
RETAIL SALES, SEP (0030)
HOUSE PRICE INDEX, SEP QTR
ANZ JOB ADVERTISEMENTS, OCT
US
MOTOR VEHICLE SALES, OCT
ISM MANUFACTURING, OCT (1500)
CONSTRUCTION SPENDING, SEP
NZ
QES, SEP QTR (2145, SUN)
AVERAGE HOURLY EARNINGS, SEP
LABOUR COST INDEX, SEP QTR Tuesday 4th Nov
AUS
RBA INTEREST RATE ANNOUNCEMENT, NOV (0330)
US
FACTORY ORDERS, SEP (1500) Wednesday 5th Nov
AUS
BUILDING APPROVALS, SEP (0030)
TRADE BALANCE, SEP (0030)
US
ISM NON-MANUFACTURING, OCT Thursday 6th Nov
AUS
EMPLOYMENT, OCT (0030)
UNEMPLOYMENT RATE, OCT (0030)
PARTICIPATION RATE, OCT (0030)
NZ
HOUSEHOLD LABOUR FORCESURVEY, SEP QTR (2145, WED)
EMPLOYMENT CHANGE, SEP QTR
UNEMPLOYMENT RATE, SEP QTR
US
NON-FARM PRODUCTIVITY (prelim),SEP QTR (1330)
UNIT LABOUR COSTS (prelim), SEP Friday 7th Nov
US
NON-FARM PAYROLLS, OCT (1330)
UNEMPLOYMENT RATE, OCT (1330)
AVERAGE HOURLY EARNINGS, OCT
PENDING HOME SALES, OCT (1500)
CONSUMER CREDIT, OCT (2000) |
