Majority of the street expected the RBA to cut rates the last time and it didn’t, this time around, it’s expecting RBA to cut rates by 0.25% to 2%.
I decided to put a spread trade: –
AUDUSD – Stop if Bid at 0-.7890, Spot at 0.7852, Stop if Offered at 0.7820. SLs at 0.7870 and 0.7830
As it turned out, the RBA did cut interest rates by 0.25% to 2%, but what was more surprising was the chopiness in the spot rate.
I was triggered on both trades and also stopped out on both trades for a trading loss of 44bps. Aarrggghhhh!
Oh well, S _ _ _ happens………..hahahahahahahasha.
The Panthenon Investment Group 