David Song

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.



Oil Flirts With Resistance as US Output Falls, OPEC Looks at All Options

Crude oil prices remains bid following a decline in U.S. field outputs, while OPEC and its allies keep the door open to further rebalance the energy market.

Weekly Trading Forecast: Central Bank News Promises Fireworks

Financial market volatility is likely as ECB and BOC policy calls are accompanied by key data in the week ahead.

Slowing U.S. GDP to Temper NZD/USD Sell-Off

Key data prints coming out of the U.S. economy may temper the sell-off in NZD/USD should the figures undermine the Fed’s scope to implement higher borrowing-costs.

GBP/USD October Rebound Vulnerable to Lackluster U.K. GDP Report

Another batch of lackluster U.K. data prints may undermine the near-term rebound in GBP/USD as it encourages the BoE to keep the benchmark interest rate at the record-low.

Above-Forecast Canada CPI to Derail USD/CAD Rebound

A marked pickup in Canada’s Consumer Price Index (CPI) may derail the near-term rebound in USD/CAD as it encourages the BoC to implement higher borrowing-costs.

Gold Prices Snap Bearish Sequence Ahead of More Fed Rhetoric

Gold prices may continue to recoup the losses from earlier this week as the precious metal snaps the recent series of lower highs & lows.

EUR/USD Opening Monthly Range in Focus Ahead of ECB Meeting

EUR/USD may threaten the monthly opening range ahead of the next ECB meeting on October 26 as the central bank shows a greater willingness to carry the QE program into 2018.

Gold Rebound Unravels as Fed Officials Endorse Three Hikes for 2018

Fresh comments from Fed officials appear to be weighing on gold prices as Chair Janet Yellen and Co. look to further normalize monetary policy over the coming months.

Stagnant U.K. Household Earnings to Fuel GBP/USD Weakness

Another batch of lackluster U.K. data prints may continue to rattle the near-term rebound in GBP/USD as it saps bets for higher interest rates.

Oil Prices Carve Near-Term Range; Recovery Sputters Ahead of SEP-High

The near-term recovery in crude appears to be sputtering ahead of September-high ($52.83), with oil prices at risk of facing range-bound conditions.

Subdued Core UK Consumer Price Index (CPI) to Rattle GBP/USD Recovery

Another 2.7% print for the core U.K. CPI may rattle the near-term advance in GBP/USD as it encourages the BoE to preserve the record-low interest rate throughout 2017.

CAD Risks Larger Correction as BoC Tames Bets for Imminent Rate-Hike

The Canadian dollar stands at risk of facing a more material correction as the Bank of Canada (BoC) expects ‘a moderation of growth in the second half of the year.’

Weekly Trading Forecast: Central Banks Back in the Spotlight

Central banks will command financial markets' attention in the week ahead, with speeches from top officials including Fed Chair Yellen and a wealth of policy-defining data due.

Lackluster New Zealand CPI to Undermine NZD/USD Recovery

The near-term rebound in NZD/USD may unravel next week should New Zealand’s 3Q CPI print encourage the RBNZ to carry the record-low cash rate into 2018.

AUD/USD Preserves Bullish Series Ahead of RBA Minutes, AUS Employment

The rebound in AUD/USD may gather pace ahead of the Reserve Bank of Australia (RBA) Minutes as the pair extends the string of higher highs & lows from earlier this week.

Uptick in Headline & Core U.S. CPI to Derail EUR/USD Recovery

An uptick in the headline and core U.S. CPI may derail the rebound in EUR/USD as it puts pressure on the FOMC to implement additional rate-hikes over the coming months.

GBP/USD Rebound Hit by Slowing U.K. Consumer Credit, Brexit Deadlock

GBP/USD may continue to face near-term headwinds as the European Union Chief Negotiator for Brexit, Michel Barnier, warns the negations have ‘reached a state of deadlock.’

EUR/USD Topside Targets Back on Radar Amid Failure to Test August-Low

EUR/USD bounces back ahead of the August-low (1.1662), with the pair at risk of making a run at the 2017-high (1.2092) as the pair initiates a bullish sequence.

Tamed FOMC Minutes to Fuel Bullish EUR/USD Sequence

The FOMC Minutes may ultimately fuel the bullish sequence in EUR/USD should Fed officials defend the downward revision in the longer-run interest rate forecast.

Gold Initiates Bullish Series, RSI Breaks Out Ahead of FOMC Minutes

Gold prices may continue to exhibit a bullish behavior over the coming days if the FOMC Minutes rattle expectations for higher U.S. interest rates.