This week as expected was volatile week as expected until the next Fed anouncement where we don’t expect any raise for the interest rate.
The childish unethical announcements from both the ARB head and specially with was explicated from the ECB Mario Draghi, leads the markets to some volatility specially that the dollar was absent this period due to the thanksgiving. Any was the fundamental indicator MFI didn’t change and it leads to the same directions. From our opinion no important events happened the previous week, the US GDP gives no new.
NEXT WEEK
Next days will be very heavy weighted we have RBA interests and US non farms. Our strategy will remain the same with some cautious with AUSSIE trades, so if you didn’t open the aussie trades yet you should wait until Tuesday, not to wait the RBAs decision but inly to avoid the probable divergence that could happen if the RBA decided to cut the rates. It is not expected to see rate cute this time , despite that if it happened the direction of the AUD will not alter but only we may face a big divergence and some slowing for some days in AUD rally specially that we are excepting that the employment situation in the USA will be enhanced, because according to MFI AUD will keep rising on the medium run.
So we continue on the same strategy , AUSJPY LONG retracement to 5.0 at 92.10
Markets-titan@financier.com
Markets-titan@financier.com