AUD

[Naked shorts]

In and out for a small profit. Japanese govt thinking of abolishing capital gains tax on profits from foreign investments. Sound like they are trying to encourage repatriation of YEN. This is bullish.

Yeah i was about to say it looks to be turning around, nice work on the long though

 

[chops_a_must]

Am I reading this correctly?

Australian Dollar -15.78% 01/01-10:28 1.6363 0.6112 1441.70 +196.87 updown +15.81%

 

[Stormin_Norman]

Am I reading this correctly?

Australian Dollar -15.78% 01/01-10:28 1.6363 0.6112 1441.70 +196.87 updown +15.81%

i have it above 70.

 

[BentRod]

Above 70???

What platform?

 

[Stormin_Norman]

all of them.

70.54

 

[wayneL]

Yerp, I have > 70 too.

Futures @~70 also

 

[BentRod]

Thanks chaps, didn't think most brokers for Spot were even open yet because of all the bank holidays Today.

@wayne....which futures are open at this time?

cheers

 

[wayneL]

Thanks chaps, didn't think most brokers for Spot were even open yet because of all the bank holidays Today.

@wayne....which futures are open at this time?

cheers

That's last close Rod, but in line with fxspot

 

[BentRod]

No worries...thanks Wayne.

 

[Stormin_Norman]

skippy went for a long hop last night.

 

[noirua]

Would be interesting to know the plans for further interest rate reductions. Could see a sudden tanking of the AUD as decisions are made and probably suddenly.

 

[Naked shorts]

Would be interesting to know the plans for further interest rate reductions. Could see a sudden tanking of the AUD as decisions are made and probably suddenly.

http://www.asx.com.au/sfe/targetratetracker.htm

 

[Aussiejeff]

Would be interesting to know the plans for further interest rate reductions. Could see a sudden tanking of the AUD as decisions are made and probably suddenly.

AUD Dropped around 4c in the last few trading days.

$US .6775 atm

If 100BP interest cut goes ahead as expected, http://www.asx.com.au/sfe/targetratetracker.htm further downside for sure?

RBA will be back to doling out heaps to prop the lil' bugger! I see they had no bidders for their auction of Yank treasuries the other day, either.

 

[Stormin_Norman]

yeah, been doing quite well on the no brainer aussie trade.

we should see USD strength and AUD weakness continue on for the remainder of the week, we have job figures thursday which wont be crash hot, and we have 'the great saviour of america' obama coming in soon too - bound to cause a near term rally for the USD.

in this weather, keep ya shorts on i think.

 

[Aussiejeff]

yeah, been doing quite well on the no brainer aussie trade.

we should see USD strength and AUD weakness continue on for the remainder of the week, we have job figures thursday which wont be crash hot, and we have 'the great saviour of america' obama coming in soon too - bound to cause a near term rally for the USD.

in this weather, keep ya shorts on i think.

*PHEWWW*

It's HOT, DAMNED HOT!!

 

[Naked shorts]

keep ya shorts on i think.

That might be a bit hard for me to do...

 

[noirua]

Recent AUD weakness may be due to the dramatic fall in the mining and related sectors. Rio seems to have set a trend, "if they can do it every mining company must."
Accordingly foreigners are not certain whether equally dramatic action will be taken on interest rates or not. Is zero possible in 2009 or will there be only a gradual slide to 3% or so?
Will Rudd & Co go for a big cash giveaway or even consider, as the UK is being reported to be considering, just printing more currency?

 

[Aussiejeff]

Will Rudd & Co go for a big cash giveaway or even consider, as the UK is being reported to be considering, just printing more currency?

Ah, yes! That old Zimbabwean trick. Should work. No deflation there....

 

[sinner]

Bah I had a beautiful short open last night at 67.085, when I went to bed it was up +39 pips! Set a small profit stop (+3 pips) and passed out. Woke up this morning to find myself stopped out during early US market action followed by market close this morning at 66.2!

 

[Stormin_Norman]

Recent AUD weakness may be due to the dramatic fall in the mining and related sectors. Rio seems to have set a trend, "if they can do it every mining company must."
Accordingly foreigners are not certain whether equally dramatic action will be taken on interest rates or not. Is zero possible in 2009 or will there be only a gradual slide to 3% or so?
Will Rudd & Co go for a big cash giveaway or even consider, as the UK is being reported to be considering, just printing more currency?

the fall in mining and the fall in AUD was because of the same reasons. fall in commodities. the AUD moves largely with commodity prices.

its also falling because we have employment this week.

and many are expecting another interest rate cut in first week of feb to match those cuts in england and europe (US has nowhere to go - other then to pay money to people to get them to take loans).

Bah I had a beautiful short open last night at 67.085, when I went to bed it was up +39 pips! Set a small profit stop (+3 pips) and passed out. Woke up this morning to find myself stopped out during early US market action followed by market close this morning at 66.2!

that happened to me monday morning! exactly the same thing! the initial 'wahoo!' is quickly replaced by cursing and desk hitting.