Optional

Can someone help me out with an explanation of why the AU and NZ dollars are falling so much today?

And any idea if and when they might turn?

opie999

E/U and G/U are dropping too. Weird thing is, so are U/C and U/J.

If the first two pairs are falling, the second two should be rising. They're all falling! Just a fluke?

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opie999

Wow! It's a beehive of activity over at ForexFactory forum! LOL!!

Holy crap, look at the Cable Update thread!

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Optional

I have no idea myself Opie

Although the aussie and kiwi have both jumped about 40 pips upward in the 20 mins or so since I asked the question

Jude

If it's yesterday's news. It's probably this for AU,

9:30am AUD Trade Balance -1.75B
-1.10B -0.81B


nothing on Kiwi though.

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If that was at 9.30am Australian time yesterday... my post was at 3.45pm


Anyway.. lucky for me... they have both picked up all the losses from yesterday and I'm into a small profit on the orders.

Jude

Congrats Opti! Btw, you have any web publications?

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Do you mean websites Jude?

If so.. yeah, a few.

I mentioned in another thread I would like to help each other with one project I'm in middle of now actually. A forex signals one. Think it will be easy, very worthwhile for you and very helpful to me too.

jazzz

This is due to the Reserve Bank of Australia kept interest rates unchanged at 7.25% as widely expected, yet the Aussie dropped as a result of the statement that accompanied this rate release. The RBA issued a statement that it does not deny the possibility of cutting interest rates, and investors are likely to witness changes around September. This reflected the increase of the RBA's less restricting policy.

As per my knowledge this statement can make traders speculate that the RBA will cut interest rates rather that raising them in the near future, the reverse of what traders speculated prior to the release of this statement. Up until that moment, traders will be convinced that interest rates will rise in order to fight the strong inflationary forces.

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