Looking for an opportunity to buy dollars & sell another currency?
Selling AUD presents an attractive opportunity at the moment.
Australia is a currency heavily dependent on commodity flows as well as production of its trading partners.
With the weakness in PMI's out of Asia coupled with Australia's private sector credit remaining a noticeable concern - downward pressure should continue for the Aussie Dollar.
Additionally, real rate differentials are negative currently between the US & Australia - as well as inflation expectations continue to rise in the US - the AUD may experience further depreciation.
Australian equities & Asian equities traded downwards off the weak data which could continue into the near term.
For other trade ideas be sure to check out Quantamize's profile
Selling AUD presents an attractive opportunity at the moment.
Australia is a currency heavily dependent on commodity flows as well as production of its trading partners.
With the weakness in PMI's out of Asia coupled with Australia's private sector credit remaining a noticeable concern - downward pressure should continue for the Aussie Dollar.
Additionally, real rate differentials are negative currently between the US & Australia - as well as inflation expectations continue to rise in the US - the AUD may experience further depreciation.
Australian equities & Asian equities traded downwards off the weak data which could continue into the near term.
For other trade ideas be sure to check out Quantamize's profile