Hi, I agree that AUD is oversold, but won't it makes more sense to buy AUD/JPY and acquire swap? I expect AUD/JPY and NZD/JPY to recover as well (after this morning RBA fiasco). EUR/JPY and GBP/JPY have already begun rallying. What do you think? ...
Be humble...no one is always right. If data is not good for USD, Gold can rocket up. It is also possible that the market buy into gold as a safe haven ahead of news.
But why is this so? Gold is XAU/USD. If USD goes up, surely XAU/USD will have to go down. If XAU and USD are of equal strength, then it won't move, right? Help me understand more, thank you good sir.