Moody’s changed Western Australia’s rating outlook to negative, and after some comments by the nation’s worst ever Treasurer Swan, saying that GDP growth is much softer than expected and that a budget surplus is ‘unlikely,’ which may reduce the rate cut pressure on the RBA. After a bit of whipsaw activity,
AUD/USD intraday: capped by a negative trend line.
Shayne Heffernan Says: Short positions below 1.0515 with targets @ 1.0455 & 1.044 in extension.
Beware: Above 1.0515 look for further upside with 1.0545 & 1.0565 as targets.
Comment: the pair is rebounding but remains capped by a declining trend line.
Opinion published is an intraday view. Green Lines Represent Resistance | Red Represent Support Levels | Light Blue is a Pivot Point | Black represents the price when the report was produced
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Heffernan Capital Management
Business Development Director – Private Client Group,
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Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Chinese Society of Economists
American Economic Society
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