Possible Carry Trade
china growth slows
The growth in china has slowed but is still 7% plus change. This would be AUD and NZD psotive as well as gold given the recent nose dives most have nbeen in we will be looking for retraces to get short again
update
With the weekend coming quick we will be looking at some of teh other nzd and aud charts for opportunities. And will post them if we can find some good trade opps
got 30
We closed the short this morning when volatilty increased we managed 30 pips took forever but a nice end to the week
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who are "we"?
who are we
I am sorry "we" is just a figure of speech we are tradetheladders a new service on RAS who hopes to build a following with insight trade ideas and help to those who want it. I am currently working towards my full CTA and plan t have a currency mgt program
If I was rude I apoligize
euro in the money
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Greetings,
This week the ECB lowered teh funding rate to zero, this action which is designed to get banks to lend money ( funny the exact thing that caused bubbles all over the world... people borrowing money is exactly what they are trying to get everyone to do again) any way I digress The zero rate sets the Euro up as a possible funding currency and the first legit shot at a carry trade on a major with a major in a long time.
The Aud has had its share of bad news of late and the China slow down may also cause rate downgrades but for now the difference is huge and you can bet major players have noticed. The EUR/AUD is our play to watch this summer. Summer brings ranges and we think a range bottom has formed ( don't go buying it) After setting a major low big money may start booking profits looking for levels to reset shorts for the summer. The pair rebounded off the low today very quickly with no real trigger to set it off.
Our play is to watch the upcoming china data which if remotely good should give teh recent sell off a respite and allow for a nice short trade in coming weeks at the 38 or 61 fib in the daily chart
We will keep you posted!!!