The Part-Time Investor
Finance | Economics | Trading | Investing
The Traders' Blog
Russians Eyeing the AUD
The Russians are about to start buying Australian Dollars. According to Russia's most senior central bankers, Alexie Ulyukayev. He said everything was ready, accounts are open, agreements are signed and the buying could begin at the start of February.
For Australian importers and Australian households purchasing overseas, this is great news as the costs of overseas goods and services become relatively cheaper. For Australian exporters, this is bad news as the their goods and services become relatively more expensive for their customers overseas.
I do not trade based on news like these because I wait until my trading indicators confirm the expected effect on the exchange rates. Even then, it is highly likely that the strategy the buyers have will be of a completely different timeframe to mine. Nevertheless, it would be interesting to track the effect this buying will have on the exchange rate of the Australian Dollar relative to other currencies like the US Dollar and the Euro.
What about you? Which currencies are you bullish or bearish on?
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