AUD/CAD 700 Pips Bargain: AUSSIE's Plight Deteriorates Further
Fundamentals:
The China Factor: Australia's economy is intimately linked to trade with China.
(1) China's lack of demand for iron ore as their economy undergoes a recession.
"Disaster looming in Australian economy as iron ore demand falls" (Daily Telegraph: dailytelegraph.com.au/business/economy/disaster-looming-in-australian-economy-as-iron-ore-demand-falls/news-story/75b7221eacd50e4639b0f076b575b7b4 )
imf.org/en/Research/commodity-prices
fred.stlouisfed.org/series/PIORECRUSDM
markets.businessinsider.com/commodities/iron-ore-price
(2) Deterioration of China's economy due to a zero-covid strategy
(3) China's property sector is cooling
(4) Aussie's Housing data becomes "haunting": stockhead.com.au/news/this-horror-week-of-housing-data-will-haunt-homeowners-until-circa-2023/
Technicals:
Past support becoming future resistance
Weekly BBT
Monthly BBT
Hit Bollinger Band 2nd Deviation in a slightly ranging market with a downward slope
Medium-term trend direction is downward
dHd
The China Factor: Australia's economy is intimately linked to trade with China.
(1) China's lack of demand for iron ore as their economy undergoes a recession.
"Disaster looming in Australian economy as iron ore demand falls" (Daily Telegraph: dailytelegraph.com.au/business/economy/disaster-looming-in-australian-economy-as-iron-ore-demand-falls/news-story/75b7221eacd50e4639b0f076b575b7b4 )
imf.org/en/Research/commodity-prices
fred.stlouisfed.org/series/PIORECRUSDM
markets.businessinsider.com/commodities/iron-ore-price
(2) Deterioration of China's economy due to a zero-covid strategy
(3) China's property sector is cooling
(4) Aussie's Housing data becomes "haunting": stockhead.com.au/news/this-horror-week-of-housing-data-will-haunt-homeowners-until-circa-2023/
Technicals:
Past support becoming future resistance
Weekly BBT
Monthly BBT
Hit Bollinger Band 2nd Deviation in a slightly ranging market with a downward slope
Medium-term trend direction is downward
dHd
Note
VPA does not agree with the rise of AUD/CAD. This is a mispriced market. A market re-alignment is forthcoming!
Note
Note
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.