Forex - AUD/USD, AUD/SGD Flows: Talks traders picking top in AUD, eye 1.01/1.00 Options


 03:16 (GMT) 23 Mar

  [Forex Flows]

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AUD/USD, AUD/SGD Flows: Talks traders picking top in AUD, eye 1.01/1.00 Options (MMHC4501)

Talks traders and many investors are now picking top on AUD/USD - selling on rallies. AUD/USD at 1.0397-00 - traded tight range around 1.0389 to 1.0410 so far - more on AUD/JPY 2-way moves - after series of BoJ Shirakawa, PM Noda and Fed Bullard comments on policy, interest rates, deflation/inflation.

Talks of selling from UK corporates, oil firms and US funds above 1.0400, while investors, Japanese names and local corporates buying on dips to 1.0370-80/ 1.0350. AUD/USD hit 2-m lows of 1.0336 yesterday. lowest level since January 17 lows of 1.0298. Still talks of investors, bank clients, selling AUD/USD puts, getting premiums, on expectations that AUD/USD will not fall too much below Parity. AUD 1-m Vols levels last seen around 10.8800%, from 10.975%. Levels at 10.635/11.125%, r/r -2.065/-1.720%. 3-m Vols at 11.74/12.24%. r/r -3.395/-3.045%.

AUD/USD stops below 1.0370 now. More downside risks seen. Key level to watch 1.0300/1.0250 and some looking for 1.0100-20. AUD/SGD at 1.3125-35, just off the 3-m lows around 1.31 lows seen yest when AUD/USD hit 2-m lows, lowest since 1.3065 on Dec 29. Eye downside risks and break of 1.3000 as local investors are likely to cut on break of 1.3000. USD/SGD at 1.2625-30 now. Offers 1.2640-50. WL


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