February seasonals: Commodity currency climb

The start of something good for AUD, NZD and CAD

February is the time to start thinking about buying the Australian, New Zealand or Canadian dollar. It"s the third-best month since 2000 for the Australian dollar but also the start of a strong period that includes March and April.

In the past 10 Februarys, AUD/USD has only declined once, in 2013.

It"s a similar story for the New Zealand dollar and the Canadian dollar follows a similar trend, although it"s less pronounced.

What"s notable is that NZD/USD appears to be breaking out today. The pair is trading at the best level since November. USD/CAD is also testing a major bottom near 1.30 and AUD/USD is threatening to break out.

With the seasonal trend extending for the next three months in these pairs, there is no rush to get into this trade.

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February seasonals: Commodity currency climb
February seasonals: Commodity currency climb
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