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.



Canadian Dollar Slammed by Weak CPI, RSI Threatens Bearish Formation

The Canadian dollar struggles to hold its ground as the region’s Consumer Price Index (CPI) highlights subdued price growth and drags on interest-rate expectations.

Lackluster Canada Consumer Price Index (CPI) to Fuel USD/CAD Recovery

A slowdown in Canada’s Consumer Price Index (CPI) may fuel a near-term recovery in USD/CAD as it encourages the BoC to keep the key interest rate at the record-low.

USD/CAD Rebound Unravels, Eyes June-Low Ahead of Canada CPI

The near-term rebound in USD/CAD may continue to unravel as the pair fails to retain the bullish sequence from earlier this week.

GBP/USD Snaps Back Amid Growing Rift at BoE; Bearish Sequence Intact

GBP/USD snapped back amid signs of a growing rift at the BoE, but the pair remains at risk for further losses as it retains the bearish sequence from earlier this week.

NZD/USD at Risk for Further Losses on Wait-and-See RBNZ

The RBNZ interest rate decision may weigh on NZD/USD as the central bank is widely anticipated to keep the official cash rate at the record-low of 1.75%.

GBP Battered by Dovish BoE Governor Carney; S&P Fires Warning Shot

GBP/USD struggles to hold its ground as Bank of England (BoE) Governor Mark Carney argues now is ‘not the time to begin’ normalizing monetary policy.

USD/JPY Eyes June High as Fed’s Dudley Endorses Normalization Cycle

Fresh rhetoric from Fed officials may continue to prop up USD/JPY as the FOMC appears to be on course to further normalize monetary policy over the coming months.

Weekly Trading Forecast: Searching for Scarce Direction Cues

A slowdown in top-tier economic news flow leaves battered financial markets to reckon with the aftershocks of last week's back-to-back bombshells.

USD/JPY Outlook Weighed by Limited Bets for December Fed Rate-Hike

Fresh remarks from Federal Reserve and Bank of Japan (BoJ) officials may encourage a long-term bullish outlook for USD/JPY amid the deviating paths for monetary policy.

AUD/USD Resilience to Persist; Eyes 2017-High Ahead of RBA Minutes

The resilience in AUD/USD may persist over the days ahead should the Reserve Bank of Australia (RBA) Minutes sway the outlook for monetary policy.

Waning U. of Michigan Confidence Survey to Dampen Appeal of USD

A downtick in the U. of Michigan Confidence survey may undermine the recent strength in the U.S. dollar as it dampens the outlook for growth and inflation.

NZD Weighed by Lackluster 1Q GDP Report; Dovish RBNZ on Tap?

The New Zealand dollar struggles to hold its ground ahead the next RBNZ meeting as the 1Q GDP report showed the economy growing at the slowest pace since 2015.

Flattening Fed Interest Rate Dot-Plot to Fuel EUR/USD Resilience

With the FOMC widely expected to deliver a 25bp rate-hike, the fresh updates from Fed officials may play a greater role in shaping the near-term outlook for the USD.

Lackluster Fed Forecasts to Prop Up EUR/USD

EUR/USD struggles following the ECB meeting, but the fresh updates from Fed officials may prop up the pair should Chair Yellen and Co. tame interest-rate expectations.

USD/CAD Faces Key Test as BoC Shift Monetary Policy Outlook

The Canadian dollar has staged a meaningful advance as BoC Senior Deputy Governor Wilkins warns the central bank will be ‘assessing’ the degree of monetary stimulus.

Fears of U.K. Stagflation to Fuel GBP/USD Losses

Stickiness in the U.K. Consumer Price Index (CPI) may do little to shore up the British Pound as fears of stagflation emerge.

GBP/USD Comes Up Against Key Downside Hurdles Ahead of BoE

GBP/USD remains under pressure following the U.K. election, with the pair at risk of facing further losses ahead of the BoE interest rate decision.

Weekly Trading Forecast: Fed Leads Docket Loaded with Event Risk

The FOMC policy announcement leads a loaded docket of top-tier event risk including rate decisions from the BOE, SNB and BOJ as well as New Zealand GDP and Australian jobs data.

USD/CAD Fails to Hold Monthly Range Ahead of FOMC Meeting

The Canadian dollar outperforms its major counterpart, with USD/CAD slipping to fresh monthly lows ahead of the FOMC interest rate decision on June 14.

USD/CAD Range Vulnerable to Strong Canada Employment Report

Another 15.0K rise in Canada Employment may undermine the recent rebound in USD/CAD as it puts pressure on the BoC to start normalizing monetary policy.