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FxWirePro- Gold Daily Outlook 
FxWirePro- Gold Daily Outlook 
Consumer prices in New Zealand increased 1.9 pct YoY in the third quarter of 2017, above market expectations of 1.8 pct and up from 1.7 pct in the previous period. The inflation rate regained footing after easing in Q2 for the first time in six quarters.
The RBA minutes are released and will provide the Board’s opinion on the key topics of housing, jobs, and the consumer. RBA Assistant Governor Ellis participates on a panel at the Australia & New Zealand Investment Conference.
Over in New Zealand, the NZ First Party board and caucus are meeting to discuss whether to enter into the coalition government with either the National or Labour parties. To the north in China, the CCP’s 19th congress opens this Wednesday and will last about a week. The congress will provide important insights about Xi’s agenda in his second term. The most feverish speculation ahead of the meeting, however, is about the possibility of Xi laying the foundations of a precedent-busting third term.
Oct 18: UK employment report, US housing starts, and Fed Beige Book
Oct 19: Australia employment report, China 3Q GDP.
Kiwi dollar, though the NZ CPI and NZ First Party’s decision are major event risks. Speculation is mounting about a Labour-Green-NZ First coalition, which would be negative for NZD. Fade the NZDUSD rally to 0.72 but the AUDNZD major downtrend has been drifting in the consolidation phase and jerky in short run, drop to 1.0850 levels.
AUDNZD in medium-term perspective: Expect the 1.0809 area to be tested again for the day if iron ore remains under downward pressure. A retest of the 1.10 area seen in April is also possible if iron ore’s rally since mid-June continues and global risk sentiment remains elevated.
We’ve seen the bearish impact on underlying AUDNZD movement in the major trend. Technically, the price behavior has been weaker with both leading as well as lagging indicators are bearish bias.
To participate in the puzzling swings, we advocate option strips strategy that contains 3 legs of vega longs (2 puts plus 1 call). Contemplating above fundamental political developments and the ongoing technical trend of this pair. The option strips that likely to fetch desired yields regardless of the trend but more potential on southwards by arresting bearish risks.
The execution goes this way: Initiate 2 lots of 2w longs in Vega put options, simultaneously, add 1 lot of Vega call options of the similar expiry, the strategy is executed at net debit.
Currency Strength Index: FxWirePro's hourly AUD spot index is flashing at 111 levels (which is bullish), while hourly NZD spot index was at shy above 160 (bullish) while articulating. For more details on the index, please refer below weblink:
http://www.fxwirepro.com/currencyindex.
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