Gold and the Australian Dollar

March 11, 2021 at 6:22 am Leave a comment

In many publications a direct correlation between the AUS (Australian Dollar) and gold is assumed.

Let us check if this holds true:

Gold and the Australian Dollar

At the end of March 10, 2021, our indicators showed demand for gold, the AUD/USD, and the AUD/JPY currency pair. How related is such demand? Some analysts state freely that Australia is the biggest gold-producing country, but it is not: China and Russia are. However, gold could be a more significant part of Australia’s GDP; but it is not. The above weekly line graph shows the gold price development in red/blue, compared with the AUD/USD (pink) for the last three years, and you see a potential trend relationship. Still, it is not significant, and each instrument develops and trades independently from the other. Both seem to be in a possible recovery mode, and we suggest trading what you see: let the chart tell when to buy or sell! The NeverLossTrading indicators paint it on the chart for you.

Pre-Market, the worldwide stock markets continue their uptick, but we did not see significant commitments yesterday that we can report back. Today at 8:30 a.m. ET, initial jobless claims and posted job openings are news events to watch out for. The /ES daily price development remains in an NLT Purple Zone and, by that, shows directional ambiguity.

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Good trading,

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Entry filed under: activity based trading, Algorithmic Trading, Institutional Money Move, Institutional Money Moves, institutional trading, Investor Education, Technical Analysis, Trade Alerts, Trading Education. Tags: .

Measuring Institutional Money Flow USA and UK Stock Markets Compared

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