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Asians’ love of Aussie dollar

by Gav Leave a Comment

It has been a very busy and wonderful two-week. After seeing off my families back to Malaysia, I am back to my trading desk. I hope to start some tradings soon. 

It is very interesting to know how the retail business people from south east asia (particularly from Indonesia, Malaysia and Singapore) view Australia dollar. They are bullish. For medium to long term , I guess. At the moment, in both Malaysia and Singapore, most probably you can’t buy Australian dollar from retail money changer on the spot. Instead, you’ve to pre-order, and collect it later. People are rushing to buy the Aussie. Supply is short. In fact, my sister was not able to find any Aussie dollar prior coming to Melbourne. This is interesting, isn’t it? 

Of course, this is not enough to create a bullish view of Aussie dollar just yet. In fact, it shows that most of retail traders/investors might still live in the old Aussie dream. This is not a simple correction, this is a pretty serious damage of Australian dollar trend. It might take awhile before their ‘investment’ takes off again. Let’s see how it goes.

Filed Under: Trading Journal Tagged With: AUDUSD, FX, Trading Journal

Reader Interactions

Comments

  1. xiaozhong lu says

    at 2:02 pm

    Yeah, AUD do just slowly raise and fast drop, still sucks yet, Looks most of ppl just think this is a chance to buy it, but it is not a time to hold a long term.

    Reply
  2. xiaozhong lu says

    at 1:02 am

    Yeah, AUD do just slowly raise and fast drop, still sucks yet, Looks most of ppl just think this is a chance to buy it, but it is not a time to hold a long term.

    Reply

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My Name is Gav.
I am a Father, Husband, Trader, And Blogger. A serious coffee addict. I started training since 2005, mainly on FX and Futures.

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