SaxoTV

Hardy: AUD story remains bearish while USD looks in limbo

505 views
April 07, 2015 aud, aud strength, aud usd, audusd, aussi dollar, aussie, aussie dollar, aussie economy, aussie weakness, aussiedollar, australia, australia currency, australian, australian central bank, australian dollar, australian dollar forex, australian economy, australian reserve bank, dollar, employment, employment rate, euro, euro area, euro dollar, european economy, eurusd, fed, fed chair, fed chairman, fed chairwoman, fed meeting, fed news, fed policy, federal, federal policy meeting, federal reserve, federal reserve rate hikes, federalreserve, fomc, fomc meeting, fomc minutes, foreign exchange, foreign exchange market, foreign exchange strategy, foreignexchange, forex, forex buying, forex market, forex market overview, forex markets, forex trading, forextrading, fx, fx crosses, fx forex, fx investing, fx market, fx markets, fx options, fx saxo bank, fx spot, fx strategy, fx trade, fx trade idea, fx traders, fx trades, fx trading, fx volatility, fxspot, non farm, non farm payrolls, non farms, nonfarm, nonfarm payrolls, nonfarmpayrolls, saxo, saxo bank, saxo tv, trading, tradingfloor, tradingfloor.com, us, us dollar, us dollar index, us economy, us fed, us federal reserve, us jobs, us jobs data, usa, usd, usd index
The decision by the Reserve Bank of Australia to hold interest rates as 2.25% saw a rally in the Aussie. But Saxo's John Hardy says this doesn't change the AUD story which remains bearish. He thinks the spike is a one-off and the reaction will fade quickly.

Ahead of Wednesday's release of the FOMC minutes, Hardy says the market believes a June rate hike is now extremely unlikely. He thinks USD looks in limbo although it has proved resilient given the weak nonfarm payroll data that was published last week.

Hardy is looking to short EURUSD. He says as long as the FOMC minutes don't surprise to the dovish side, USD looks in pretty good shape. He also warns traders to watch out for the Greek risks in play this week.