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Wednesday, 12 December 2012

Post FOMC market Update

Following the Frankly unsurprising FOMC statement, Risk across all markets has decided to pick up. However it seems slightly unsustainable short term.

With Regard to earlier AUD analysis, A break of 1.0625 and close above it will be my sign for a breakout, until then I'm looking for a fakeout move and reversion to <1.05. With this in mind I suggest getting on the short side for the potential of a move down, 1.0575 seems decent value with 60 point stop and 75 point target.

Top left, Clockwise, E-mini, Us 10Y yield, EURUSD, Gold. Thomson Reuters.




Bonus chart -

E-mini and Us 5y Correlation chart, Thomson Reuters

The noticeable spike in correlation was clear after the FOMC statement, Suggesting that algorithms are ruling the market at present. This isn't just in E-mini's and Treasuries but across all markets with USD responding accordingly. 
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