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.



USD/CAD Risks Larger Pullback on Less-Dovish BoC

USD/CAD stands at risk of extending the recent series of lower highs & lows should the Bank of Canada (BoC) soften its dovish outlook for monetary policy.

NZD/USD Comes Up Against April High; Sterling Weathers Terror Attack

NZD/USD quickly approaches the April high, with the pair facing a key test as market participants scale back bets for three Fed rate-hikes in 2017.

NZD/USD Breaks Monthly Opening Range Ahead of NZ Trade Balance Report

The NZD/USD exchange rate looks poised for a larger recovery as it breaks out of a narrow range and climbs to a fresh monthly high of 0.6997.

Marked Pickup in Canada CPI to Fuel Larger USD/CAD Pullback

A pickup in Canada’s CPI may fuel a larger pullback in USD/CAD as stronger inflation puts pressure on the BoC to lift the benchmark interest rate off of the record-low.

AUD/JPY Eyes April Low as Risk Sentiment Deteriorates

The near-term recovery in AUD/JPY has unraveled as market participants scale back their appetite for risk, with the pair quickly approaching the April low (81.49).

GBP/USD Breaks Monthly Range; RSI Divergence Persists

The GBP/USD exchange rate may continue to mark fresh monthly highs over the coming days as it breaks out of a narrow range.

Aussie to Stage Larger Recovery on Upbeat Employment Report

Another uptick in Australia Employment may fuel a larger recovery in AUD/USD as it casts an improved outlook for growth and inflation.

USD/JPY Downside Targets in Focus as Risk Appetite Dissipates

USD/JPY extends the series of lower highs & lows from the prior week, with the pair at risk for further losses as market participants scale back their appetite for risk.

Subdued Australia Wage Price Index to Curb AUD/USD Recovery

Australia’s Wage Price Index may curb the near-term advance in AUD/USD as household earnings are projected to hold steady at the record-low of 1.9%.

Euro Extends Bullish Series as ECB Warns of Upcoming Shift in Policy

The Euro may continue to outperform its major counterparts as the European Central Bank (ECB) appears to be on course to alter the monetary policy outlook.

Strong U.K. CPI Report to Fuel GBP/USD Relief Rally

A marked pickup in the UK CPI may fuel the relief rally in GBP/USD as it puts pressure on the Bank of England (BoE) to normalize monetary policy sooner rather than later.

USD/JPY Carves Lower Highs & Lows Amid Failed Run at March High

The USD/JPY exchange rate may continue to give back the advance from the April-low (108.13) as it carves a near-term series of lower-highs & lows.

Weekly Trading Forecast: G7, German Vote, US Politics in Focus

The outcomes of a G7 meeting and a key German state election as well as worries about the direction of US politics are in focus in the week ahead.

Yen to Benefit from Easing Fed Expectations, Waning Risk Sentiment

Risk sentiment may play an increased role in driving USD/JPY price action as the economic docket stands fairly lightly for the week ahead.

EUR/USD Holds Above 200-Day SMA Ahead of Euro-Zone 1Q GDP Report

EUR/USD may stage a larger recovery ahead of the Euro-Zone 1Q GDP report as it breaks the recent series of lower highs & lows.

Lackluster U.S. CPI, Retail Sales to Keep EUR/USD Afloat

Another series of lackluster U.S. data prints may prop up the EUR/USD exchange rate as it drag on interest-rate expectations.

USD/JPY Struggles as Risk Sentiment Wanes- RSI Flashes Sell Signal

The USD/JPY exchange rate stands at risk for a larger pullback as there appears to be a near-term adjustment in market sentiment.

Greater Dissent Inside the BoE to Fuel GBP/USD Relief Rally

A greater dissent within the Bank of England (BoE) may fuel the relief rally in GBP/USD as it boosts interest-rate expectations.

Dovish RBNZ to Curb NZD/USD Rebound- RSI Divergence Takes Shape

NZD/USD may struggle to retain the rebound from earlier this week should RBNZ Governor Graeme Wheeler continue to highlight a dovish outlook for monetary policy.

AUD/JPY Continues to Track Risk Sentiments; Bullish RSI Trigger in Play

The ongoing pickup in risk sentiment may prop up AUD/JPY over the days ahead as market participants continue to utilize the Japanese Yen as a funding-currency.