Divergences on AudUsdâ¦.the week starts with a rebound, itâs going to be the right time for the Aussie. Tomorrow: RBA meeting.
Interesting analysis from ECB Research on the state of the Australian economy: http://www.financialsense.com/contributors/bca-research/australia-a-fading-star
Negative seasonality coming for the Aussie in August, yet another failed attempt for gold to climb above 1300?
The owners of physical gold at the moment are asking for money to get Dollars in exchange. As we can see from the graph the Gold Forward Offered Rate is negative as after the Lehman bankruptcy.
Both AUD/USD and gold seem to have breached the 40-month EMA decisively. Two downtrends in the making?
The Australian central bank has confirmed that it will reduce rates again to support the growth (and weaken the currency) ... follow the trend.
Such a negative sentiment from Aud on the Cot Report never occurred even in 2008. Itâs evident that the trend has changed, but now the chances of a rebound are quite high.