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.
