By Sean Hyman | April 20, 2009
It’s a mixed bag today folks! The top gainer on the day is USD/TRY up 2.12% followed by EUR/AUD, USD/CAD, USD/ZAR and GBP/AUD.
The top losers on the day are AUD/JPY down 3.52% and AUD/USD down 2.81%.
Therefore there are two themes emerging this morning. One is that the dollar is strong, particularly against the exotic currencies. The other theme is that the Aussie dollar is weak across the board today. That is due to the Aussie PPI number falling off the map. It was such as big dive that it shocked the Aussie dollar.
Also, another theme is that the yen is strong across the board too as it drags just about every yen pair to the bottom of the pack.
Short term plays on Aussie weakness (shorting AUD/JPY and AUD/USD) could give some great opportunities should the weakness continue. Also, look for any new intraday highs/lows that get taken out from Friday’s daily candle. These can present some good “short term pops” too.
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