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May 31, 2016

Rate hike in US economy

The USD is trading near its three month highs against basket of currencies. It is finding it strength from a growing view that a US rate hike is imminent. Fed Reserve chair, Janet Yellen, said on Friday that a rate hike would be “appropriate” if the US economy and labour market continued to improve.

The AUD rebounded sharply on surprisingly strong local economic data. The AUD has been in a bear trend in recent months, but most trader believe the bad news has been priced in

The Yen managed to hold recent gains supported by month-end buying by Japanese exporter. But longer term the possible government stimulus package could weigh on the currency

TRADE SUGGESTIONS

 

Long/Buy USD  Short/Sell YEN 

Long/Buy AUD  Short/Sell YEN

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