David Song

Currency Analyst

Central bank policy, economic indicators, and market events.
David Song is a Currency Analyst for DailyFX, specializing in news-driven trading and mixing fundamental expertise with technical analysis. He studied macroeconomic policies under a visiting scholar at the Federal Reserve Bank of St. Louis while attending the Zicklin School of Business at Baruch College where he received his degree in Finance and Investments. He gained experience in technical analysis from a former president of the Market Technicians Association, and incorporates both technicals and fundamentals in his reporting.



Dismal New Zealand Employment Report to Open Downside NZD/USD Targets

New Zealand’s 1Q Employment report may spur a bearish reaction in NZD/USD should the figures highlight a deterioration in labor-market dynamics.

NZD/USD Carves Double-Top; USDOLLAR Forms Bullish-Engulfing

The near-patters in NZD/USD raises the risk for a further decline, while the USDOLLAR stands at risk for a larger rebound.

Wait-and-See RBA to Keep AUD/USD Afloat; Will Stevens Talk-Down AUD?

Even the RBA is expected to retain its current policy, AUD/USD may struggle to hold its ground should Governor Stevens toughen the verbal intervention on the aussie.

EUR/USD Clears 1.1500; Retail FX Crowd Remains Stubbornly Short

Retail sentiment stands at extremes as the FX crowd remains net-short EUR/USD since the ECB’s March 10 meeting even as the pair climbs to fresh 2016 highs.

Weekly Trading Forecast: Systemic Changes Afoot for Risk, EURUSD, USDJPY?

Though still early yet, there have been some remarkable change in trend recently. Dollar is in retreat with the S&P 500 starting to slip. The Yen has surged while Gold has hit 15-month highs. Is ...

GBP/USD to Face Larger Advance on Lackluster Fed Rhetoric

The slew of fundamental developments coming out of the U.S. economy may play a larger role in driving GBP/USD volatility especially as the U.K. docket remains fairly light for the first full week of ...

AUD/USD Retail FX Flip Ahead of RBA Meeting; Rate-Cut on Tap?

The retail crowd has flipped net-short AUD/USD ahead of the RBA meeting, with market participants raising bets for a rate-cut. 

Slowing Euro-Zone GDP, CPI to Cap EUR/USD Advance

A marked slowdown in Euro-Zone growth and inflation may cap the near-term advance in EUR/USD as it fuels speculation for additional monetary support.

USD/CAD FX Sentiment Hits Extremes as Pair Slips to Fresh 2016 Low

Retail FX sentiment is pushing extremes as the crowd remains net-long USD/CAD even as the pair pushes to fresh 2016 lows.

EUR/USD to Eye Topside Targets on Disappointing 1Q U.S. GDP Report

A dismal 1Q U.S. GDP report may open up the topside targets for EUR/USD as it undermines speculation for a Fed rate-hike in June.

NZD/USD Risks Further Losses on Bets for Imminent RBNZ Rate-Cut

NZD/USD may continue to give back the advance from earlier this year should the RBNZ keep the door open to implement additional rate-cuts over the coming months.

EUR/USD Advance Vulnerable to Growing Dissent Within FOMC

A greater dissent within the Federal Open Market Committee (FOMC) may drag on the near-term advance in EUR/USD as it boosts bets for a June rate-hike.

GBP/USD Retail FX Sentiment Most Extreme Since Last Summer

The retail FX crowd appears to be fading the near-term advance in GBP/USD ahead of the UK GDP report, with the SSI nearing the most extreme reading since last summer.

AUD/NZD Topside Targets Remain in Focus Ahead of RBNZ Rate Decision

The Reserve Bank of New Zealand (RBNZ) interest-rate decision act as a near-term catalyst to spur a further advance in AUD/NZD should Governor Graeme Wheeler show a greater willingness to further emba...

USD/JPY Retail Interest Wanes Ahead of Japan CPI Report, BoJ Meeting

The retail FX crowd remains stuck on the wrong side ahead of the key event risk coming out of Japan, with open interest waning going into the end of the month.

EUR/USD Weakness to Fizzle Should ECB Move Away From Rate-Cuts

The recent weakness in EUR/USD is likely to be short-lived should the ECB talk down speculation for further rate-cuts.

GBP/USD Vulnerable to Further Losses on Slowing U.K. Retail Sales

Another decline in U.K. Retail Sales may generate a larger pullback in GBP/USD as it dampens the outlook for growth and inflation. 

EUR/USD Retail FX Cling to Net-Short Positions Ahead of ECB Meeting

The retail FX crowd remains net-short EUR/USD ahead of the ECB policy meeting, with retail traders stuck on the wrong side since the last rate-decision on March 10.

GBP/USD Rebound to Fizzle on Slowing U.K. Wage Growth

Despite the ongoing improvement in the U.K. labor market, a marked slowdown in household earnings may drag on GBP/USD as it weighs on interest-rate expectations.

USD/CAD Risks Further Losses Despite Cautious BoC

USD/CAD may continue to extend the decline from earlier this month as the bearish momentum appears to be gathering pace.

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