Every country is looking at economic growth, labour, CPI and unemployment. Australia is no different.
So at 8:23am, I put on my straddle with the following details: –
AUDUSD 0.7045 – 0.7065 – 0.7085 with spot at 0.7065 and SLs at spot
Employment came out whopping strong at 58K vs 15K forecast and unemployment rate dropped to 5.9% from 6.2%.
The AUD spiked up triggering my stop if bid order at 0.7085. I sold half the position at 0.7140 and keeping the other half till Asia opens and clients starting coming in in the mid morning.
Unfortunately, the AUD didn’t really move very much more, so I closed the other half of the trade at about 10:30am at 0.7145.
Trading profits was 55bps and 60bps for an average of 57.5bps on $100Mn trade size.
The Panthenon Investment Group 