Forex

I am new to this forex. I have done a online trading course. I have a economic and statistics degree from varsity with courses like stochastic modelling,time series, economics for financial markets,international economic. I need help with more information from an experienced trader. Please pleople help me

The risk is completely to the downside on the AUD. Especially in the month of March. Besides what you just mentioned (which is by far the most important aspect - dovish mentionings) we've got a correction coming in commodities, repatriation of yen for FY end in Japan, and a rise in the VIX.

Here is some commentary I found curious:

"Commodity led currencies are receiving a broad bid as oil surges through 104.00 and gold hits record peaks. [AUD/USD] is closing in on the initial 0.9355 technical resistance, with an underlying bid also being taken from the Dow futures three digit gains after trade in [AMBAC] shares were halted. [USD/CAD] is easing back towards session lows, although remains stuck between a rock and a hard place given the gloomy outlook in Canada, outlined by the BoC this week. [EUR/USD] surged to fresh record highs after UK clearer demand pushed the pair to 1.5300. "

Is this the deep breath before Non-Farm Payrolls tomorrow? USD seems to be very low, everyone seems to be expecting a pretty bad NFP.

Low expectations could be good for the dollar. We have already seen that the market is kind of growing numb to disappointing US data .However, employment is still a big concern for growth - if the consumer withdrawals their support to growth, the chances of a recession will likely be much greater than 75% - depending on what other sectors step in by then.

I don't have any dollar exposure going into this NFP event risk, but I have USDCAD levels that may draw me into a trade should they be broken. A confirmed higher time-frame bar (4 hr, 8 hr, daily) could encourage a small short position that I would build as it went down. I am cautious of a bounce from 0.97. I'd rather trade to the long side on a break above 0.9964 or 1.0180.

At the moment, two. (Sorry, it's not CAD) I'm short in USD/CHF, got over 70 pips so far, and just entered a short EUR/JPY. I'll tighten the stops if they are still running before NFP tomorrow.

With oil where it is, $105.+, and a potentially bad NFP it's tempting to short the USD/CAD pair but that's tomorrow's issue.

AUD/USD any ideas on todays chart?

US NFP of -63k was even worse than Mr. Market expected, while CA gained 43.3k jobs

So why is USD/CA up 60 points over yesterday?

his may help from Thomson news wire. It is a good chance for me to enter another short since I took profit on the first one this morning when the first round of job numbers came out.

Per Canadian Press, Global Insight's forecast released at noon today concludes:

Canada's economy will slow this year but easily avoid a recession.
The Canadian dollar will also weaken, but only slightly to average about 97 cents