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Monday night, we were fortunate enough to initiate a long position in the Australian dollar. I took a long, hard look at it before entering the position – on one hand, it had already been rallying strong and was afraid may be due for a pullback. But the fundamentals and technicals looked too good, so […]
The Australian dollar topped the 74-cents mark today to hit a new 6-month high against the US dollar. The Aussie has been rallying strong of late, and this recent strength is now also underpinned by yesterday’s decision by the RBA (Reserve Bank of Australia) to hold interest rates at 3% for at least the near […]
More good news for Australia’s economy – and the Australian dollar. This builds upon our review yesterday of the Australian dollar’s attractive prospects. The A$ is up $0.112 as I write, currently sitting at $0.7163. From Everbank’s Chuck Butler: Down Under… Australia saw Consumer Confidence rebound for the first time this year… Here’s the skinny… […]
Is the Australian Dollar poised to climb again? EverBank’s Chuck Butler believes the Reserve Bank of Australia may be done cutting rates, in anticipation of an economic recovery, and underpin a rally in the Aussie $. In Chuck’s own words: Yesterday, I told you that the Reserve Bank of Australia (RBA) had cut rates 25 […]
Top posts from the past week: Inflation or Deflation – Which Will Prevail? Fed Out of Ammo; Dollar is Toast Stratfor: Oil Prices Likely to Remain Low Our coverage of Marc Faber’s recent interview on CNBC from December 1st continues to see a lot of traffic. A review of our trades from the previous week: […]
Will post some thoughts later in the week on the positions… Open Positions Date Position Qty Month/Yr Contract Entry Price Last Price Profit/Loss 07/23/08 Long 1 SEP 08 Australian Dlr 0.9567 0.9280 ($2,870.00) 06/17/08 Long 1 DEC 08 Cotton 82.20 70.72 ($5,740.00) 07/30/08 Long 1 FEB 09 Live Cattle 108.850 110.225 $550.00 08/01/08 Long 1 […]
Current thoughts on these futures markets: Australian dollar – Of course, what would a currency trade be without a trip to the wrong side of the ledger? I’ve decided I am no longer using breakouts to determine my entry points with currencies, and have jumped into the Aussie on what I deemed a ‘pullback’. Since, […]
Good news out of Australia, and a nice job by Bloomberg comparing the rate situation between Australia and the US. Bottom line is the US is basically already in a recession and rates here are coming lower – Australia is still hot and rates are going higher. That is bullish for the Aussie dollar. By […]
Keep an eye on that Aussie $ – let’s see if it can break through the 0.89 mark. From Chuck Butler in today’s Daily Pfennig:And on that note… Australian Retail Sales gained for a 6th month in November, advancing .8% from October. I’m telling you now, so you can hear me later… The Reserve Bank […]
Anyone who’s been reading for the few months know what a big fan I am of the Aussie $. Here’s another angle why it’s due to rise from the Daily Pfennig and Chuck Butler. You know… A month ago, while I was in Florida on Marco Island speaking at the Wealth Masters Conference, my colleague, […]
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