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AUD/USD and GBP/AUD Breakout as Volatility Strikes

AUD/USD and GBP/AUD Breakout as Volatility Strikes

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- Chinese credit concerns spillover into FX markets.

- Emerging market concerns provoking flight to safety.

- AUDUSD and GBPAUD trades maturing.

To keep up with the European data and news as the week goes forward, be sure to sign up for my distribution list.

Emerging market pressure has ramped up the past few days, with currencies like the Argentinian Peso and Russian Ruble coming under pressure. As distant risk-related cousins, the commodity currencies, the Australian and New Zealand Dollars, are under significant pressure. The AUDUSD and GBPAUD trades covered earlier this week continue to evolve favorably.

--- Written by Christopher Vecchio, Currency Analyst

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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