AUSTRALIAN DOLLAR TUMBLES

The Australian dollar is under pressure, losing ground against all major currencies except the New Zealand dollar on Tuesday.

Here’s the scoreboard as at 8.30am AEDT.

AUD/USD 0.7820 , -0.0085 , -1.08%
AUD/JPY 85.58 , -1.02 , -1.18%
AUD/CNH 4.9408 , -0.0243 , -0.49%
AUD/EUR 0.6374 , -0.0012 , -0.19%
AUD/GBP 0.5634 , -0.0033 , -0.58%
AUD/NZD 1.0804 , 0.004 , 0.37%
AUD/CAD 0.9822 , -0.0049 , -0.50%

With the exception of the Kiwi dollar which was undermined by a downgrade from the RBNZ’s inflation forecasts in its latest monetary policy statement, the Aussie fell against all major currencies, especially against a resurgent US dollar. Read More @ https://www.businessinsider.com.au/aud-australia-dollar-us-bond-yields-2018-2

UK SLOWSDOWN 

The housing market is seeing contrasting trends – with sellers of top-end homes particularly struggling to achieve asking prices while in many places conditions are “solid but unspectacular”, according to surveyors. In general, housing market activity got off to a subdued start in 2018, as new buyer inquiries fell in January for the 10th month in a row, the Royal Institution of Chartered Surveyors (Rics) said. Sales levels and the flow of fresh properties coming on to the market also drifted lower. Read More @ http://www.dailymail.co.uk/wires/pa/article-5365207/Housing-market-activity-got-subdued-start-2018-say-surveyors.html

USD INDEX TECHNICAL CHART

THE USD – We have not change our views on selling the USD but we will be cautious on teh Chart pattern till it goes to our pattern approach on the AD CHART. We wait for the price to be back again below $90.

TODAY’S NEWS THAT MIGHT AFFECT YOUR TECHNICAL CHART.

  1. 4.00am – RBNZ Governor Spencer: – We are not concerned about currency and are comfortable with where it is at – Rate normalisation will happen and the risk is if it happens swiftly; LOOKS LIKE EVEN NEW ZEALAND is preparing for a Currency war. We stay neutral for NZD Pairs.
  2. 7.50am – Japan currency account looks healthy and it looks like JPY pairs are consolidating for strengthening soon.
  3. Today All Day – China will release their Trade Balance and we are expecting a good data.
  4. 1.00pm – is an important data from Japan – Economy Watchers Sentiment which is expected to be good for JPY.
  5. 3.00pm – German Trade Balance – we are expecting a good data. We maintain our Buys at strategic MA200 & RSI Points for BUYS.
  6. 4.45pm – German Weidmann will speak and expect volatility on the EUR pairs.
  7. 5.00pm – Euro-zone will release Economic Bulletin that will move the euro. Be cautious.
  8. 8.00pm – GBP pairs will go into action- we expect no change to rate but hawkish votes and monetary policy – we will trade after the news if the news is in favor for GBP.
  9. 9.15pm – Canada will release housing data – we are expecting good data, we continue to watch USDCAD for a SELL.

The market will be watching the DOW reaction and the SP500 movement. Remember the market is fragile and expect more drastic movement of the DOW & SP500 volatility

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary

 

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