The job of turning around the global economy lies of the shoulders of just a few people and in this group includes central bank governors. With such a tall task at hand, it leads me to wonder what are the people with such power and responsibility making. Is it enough to compensate for [...]

Posted in Bernanke, ECB, New Zealand dollar, Reserve Bank of Australia, Trichet, forex blog 17 Comments »

After the Bank of Canada cut interest rates by 50bp this morning, my target of 0.8350 in AUD/CAD has been reached. Yesterday, when the currency pair was trading at 0.8122, I argued that the possibility of the Reserve Bank of Australia leaving rates unchanged and the possibility of the Bank of Canada being more dovish [...]

Posted in 2009 canadian dollar, Australian Dollar, Bank of Canada, Canadian Dollar, Forex Technicals, Reserve Bank of Australia, USD/CAD, australian dollar forecast, forex blog, forex signals, quantitative easing, zero interest rates 2 Comments »

Over the next 24 hours, there will be 2 interest rate decisions. The first one will be from the Reserve Bank of Australia at 10:30pm ET or 3:30 GMT and the second will be from the Bank of Canada at 9:00am ET or 2:00 GMT. Both central banks are expected to cut interest [...]

Posted in 2009 canadian dollar, Australian Dollar, Bank of Canada, Canadian Dollar, Reserve Bank of Australia, forex blog 2 Comments »

Compared to other G10 nations, the slowdown in the Australia’s economy has not been as deep. Of the eight major central banks, Australia currently has the highest interest rate. This evening, the RBA will be faced with the tough decision of cutting interest rates once again. The market is currently looking at [...]

Posted in Australian Dollar, Reserve Bank of Australia, forex blog 1 Comment »

I really like the Australian dollar for a variety of reasons:
Technically, the currency pair is trading in the Buy Zone, which I establish using Bollinger Bands. But more importantly, in addition to being in the Buy Zone, it has broken out of a triangle and is trading above the 50-day Simple Moving Average. [...]

Posted in Australian Dollar, Fed Rate Cut, Forex, Forex News, Forex Technicals, Reserve Bank of Australia, aud/usd, forex blog, forex signals 14 Comments »