- Freddie Mac and Fannie Mea plunged near 20 percent on speculation that the government is going to rescue the two struggling companies.
- Fear of credit crunch cast its shadow again and caused equity indexes to drop about 1.5 percent.
- Oil was somewhat higher on possibility of interruption in supply by tropical storm Fay.
Bank of Australia was due to release the minutes of its August meeting and it was expected to reflect policymakers' concerns about slowing economy. - Bank of Japan was also expected to announce its decision on interest rate at 15:30 local time, highly anticipated to hold it at 0.5 percent and express concerns on growth.
So I find it the best time to sell Aussie, and I selected the Japanese yen as the partner, targeting both reducing carry-trading and negative impact from BOA Minutes.
The position closed automatically near the support, resulting in 40 pip profit. It was about 30 minutes before the release of the bank's minutes but I was comfortable with the result and didn't follow market after that.




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