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.



Firm NFP Report to Undermine EUR/USD Recovery; Bear-Flag Takes Shape

A 180K rise in U.S. Non-Farm Payrolls (NFP) may undermine the recent recovery in EUR/USD as it puts increased pressure on the FOMC to raise the benchmark interest rate.

NZD/USD Fails to Extend Near-Term Bullish Series Ahead of NFP Report

Failure to extend the recent series of higher highs & lows undermines the near-term rebound in NZD/USD, with the pair at risk of facing further losses going into NFP’s.

Encouraging ISM Manufacturing Survey to Feed Bearish EUR/USD Outlook

Another uptick in the ISM Manufacturing survey may feed the bearish outlook surrounding EUR/USD should the data highlight an improved outlook for the U.S. economy.

AUD/JPY Breakout Appears Exhausted as RSI Struggles Again

The ongoing pickup in risk appetite may drive AUD/JPY higher throughout the remainder of the year as there appears to be a broader shift in market behavior.�

Steller Canada GDP Report to Propel USD/CAD Pullback

A marked picked in Canada GDP may generate a larger pullback in USD/CAD as signs of stronger growth raises the BoC’s scope to gradually move away from its easing-cycle.

NZD/USD Rebound Clears First Hurdle Ahead of RBNZ’s FSR

NZD/USD looks poised to extend the recent series of higher highs & lows as it pushes back above the former-support around the 0.7100 handle.

EUR/USD Weakness to Persist on Upbeat U.S. Consumer Confidence Survey

A marked rebound in the Conference Board’s U.S. Consumer Confidence survey may weigh on EUR/USD as it fosters an improved outlook for growth and inflation.

Canadian Dollar Recovery to Fizzle If OPEC Fails to Deliver

The rebound in the Canadian dollar may be short-lived should the Organization of Petroleum Exporting Countries (OPEC) fail to curb oil production.

Strong U.S. Durable Goods Orders to Fuel EUR/USD Losses

EUR/USD stands at risk for further losses should the U.S. Durable Goods Orders report highlight and improved outlook for growth and inflation.

USD/JPY Struggles to Preserve Bullish Series Ahead of May High

The USD/JPY rally appears to be losing steam as the pair fails to test May high (111.45) and struggles to extend the recent series of higher highs & lows.

USD/CAD to Stage Larger Pullback on Strong Canada Retail Sales Report

A marked rebound in Canada Retail Sales may generate a larger pullback in USD/CAD should the report dampen expectations for additional monetary support.

USD/JPY Continues to Carve Higher Highs & Lows; May High in Sight

The near-term series of higher highs & lows may push USD/JPY back towards the May high amid the pickup in risk appetite paired with bets for a December Fed rate-hike.

Weekly Trading Forecast: Does a Seasonal Liquidity Drain Benefit or Threaten the Markets?

The US Thanksgiving holiday week offers a historical drain on liquidity and boost in speculative reach. However, against the backdrop of rate speculation, protectionism and uneven risk trends; shallow...

GBP Flash Crash Rebound Fizzles- UK Budget to Offer Limited Relief

Recent price action casts a bearish outlook for GBP/USD as the recovery from the 2016-low (1.1905) appears to be losing momentum

GBP/USD Eyes ’Flash Crash’ Low Ahead of U.K. Budget Statement

GBP/USD may continue to give back the rebound from the ‘Flash Crash’ as it threatens the upward trending channel carried over from the previous month.

Sticky Canada CPI to Foster Larger USD/CAD Pullback

Signs of sticky price growth in Canada may foster a larger pullback in USD/CAD as it limits the Bank of Canada’s (BoC) scope to further embark on its easing-cycle.

USD/CAD Continues to Carve Bearish Formation Ahead of Canada CPI

USD/CAD stands at risk for a larger pullback going into Canada’s Consumer Price report as it continues to carve a near-term series of lower highs & lows.

Recovery in Australia Employment to Encourage AUD/USD Rebound

A pickup in Australia employment may fuel a rebound in AUD/USD, but there appears to be a shift in behavior as the pair fails to preserve the 2016 trend.

GBP/USD Defines Near-Term Range Ahead of U.K. Retail Sales Report

A marked rebound in UK Retail Sales may spark a near-term rebound in GBP/USD as the exchange rate preserves the near-term range and holds above the 1.2360 support-zone.

GBP/USD Weakness to Abate on Robust U.K. Job/Wage Growth

A pickup in U.K. job/wage growth may halt the near-term decline in GBP/USD as it puts increased pressure on the BoE to move away from its easing-cycle.