RBA hiked rates by .25% last night sending the Aussie higher on the crosses.
This rally has taken the Aussie and its crosses to basically nowhere on varying longer term time-frames.
Don’t chase, the game is tomorrow,
Bruce forwarded this Forward Guidance piece which is well worth a close listen
Spoo’s are now holding its 400 DMA on breaks which comes in today @ 4169.
Whalen believes a cut in rates is warranted in the U.S. to keep the Banks and commercial real estate solvent.
Euro seems stuck, however it’s an active cross trade as the short commodity trades have been unwound over the past two sessions.
EUR/JPY went within a few ticks of its next target and backed off.
The whole board will revolve around the mid-week shuffle.