This morning at 8:30am Singapore time, the trade balance for AUD came in at (0.81)Bn and improvement from the previous month’s (1)Bn.
New Home Sales declined to -5.2 compared the a positive 4.2 the previous month.
Nonetheless, AUD strengthened alittle and the JPY weakened a little, giving us an opportunity to long the AUDJPY at 97.63 and we closed the position at 97.90 for a 27bps realized trading profit or an absolute gain of 0.27%.
We missed the opportunity to short the AUDJPY on the way down at about 10am Singapore time.
Market is possibly creating an opportunity to long the AUDJPY again, the current spot is at 97.65 and the technicals look interesting.
The Panthenon Investment Group 