Here’s How to Trade Aussie GDP - Forex News by FX Leaders

Here’s How to Trade Aussie GDP

Posted Wednesday, September 6, 2017 by
Rowan Crosby • 1 min read

It’s been busy on the data front in Australia over the last few days. Yesterday we had the RBA come out and leave rates unchanged and today we have another top tier release with GDP.

A beat would obviously help to rally the AUD, however I suspect that we are getting to point that is just fundamentally higher than what the RBA might like. I’ve said it many times before but the RBA just don’t want the AUD to be trading north of 80 cents. Even 80 is too high. It hurts the value of exports and by enlarge, the Aussie is an export economy.

AUD

Short Pops

I’m looking to short the AUD/USD on any pops over 80. Both in the short and long term. Over the coming months I suspect the Aussie will find it’s way back down to 75 cents. However in short term, it’s been getting a bit of a bump from the weak USD.

On the back of the GDP data I’ll be looking to short above 0.8050, for a move back below 0.8000.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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