You have no items in your cart.
New AUD/CHF Big Trade Order – Stopped
11/27 – Stopped out
***11/19 – Second Entry Triggered. AVERAGE ENTRY AT 0.7158
11/2 – First Entry Triggered
New AUD/CHF Big Trade Order
Place Order to Sell 1 Lot AUD/CHF at 0.7045
Place Order to Sell 1 More at 0.7270
Stop for ALL 0.7437
The Australian dollar is in play this week with a RBA rate decision, retail sales, trade and PMI reports on the calendar. A small group of investors are looking for the RBA to ease and while we do not believe that the economy deteriorated enough to warrant the third rate cut this year, there are many reasons for the Reserve Bank to be dovish. Last night we learned that manufacturing activity slowed significantly and while service sector activity numbers won’t be released until after the RBA meeting, the drop in construction sector activity indicates that the slowdown is not limited to manufacturing. Labor market and inflationary conditions also softened since the last meeting and imports from China plunged. While the RBA will be encouraged by the recent easing from the PBoC and improvement in market indices, China’s response is to slowing growth. We have chosen to sell AUD versus CHF because there is little Swiss Franc risk and more importantly, on a technical basis, the franc appears to be due for a deeper correction.