No Yield Yet: Aussie Dollar Experiment (Update #1)

There isn’t any yield yet from our experimental trading plan. So the Australian Dollar experiment got off to a bad start… is the coin just unlucky? The first two days was 100% unlucky. On Thursday, our trade opened LONG 83.94 cents at 8.50am Sydney time and closed at 83.75 cents: the trade ended with a 19 pip loss - remember, our trading plan is to exit if it hits 30 pips against our position or 60 pips if it goes towards our position. Last Friday, the coin was tails so we went short at 9am opening the position at 83.58 cents. 12 hours later we closed the trade at 83.62 cents - 4 pips loss. Unlucky? Well we’ll keep track with this progress for a while…

Meanwhile, the Aussie tracked lower on Friday when there was interest rate rumours in the US. So what’s there to watch, if you’re trading the Aussie dollar this week?

19 June: ABARE crop report; US Housing starts for May
20 June: Car sales for May; Dwelling starts for March quarter
21 June: RBA Bulletin; US leading indicators for May