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.



Weekly Trading Forecast: Where to for FX Market after Fed and BoJ Adjust, Volatility Cools?

We have passed two weeks of fireworks in volatility and event risk. Will conditions simply settle as they did in July and August; or has a permanent shift been put into motion?

GBP/USD to Face Fresh Monthly Lows on Hawkish Fed Rhetoric

With a slew of Federal Reserve officials scheduled to speak throughout the last full-week of September, the fresh batch of central bank rhetoric may generate new monthly lows in GBP/USD should they b...

GBP/USD to Face Fresh Monthly Lows on Hawkish Fed Rhetoric

With a slew of Federal Reserve officials scheduled to speak throughout the last full-week of September, the fresh batch of central bank rhetoric may generate new monthly lows in GBP/USD should they b...

Slowing Canada Core CPI to Foster USD/CAD Rebound

A marked slowdown in Canada’s core rate of inflation may spur a near-term rebound in USD/CAD as it puts pressure on the BoC to further embark on its easing cycle.

USD/JPY Outlook Turns Bearish as BoJ Endorses ’Yield Curve Control’

USD/JPY remains at risk for further losses following the BoJ rate-decision as the pair breaks down from a near-term holding pattern.

Hawkish Fed, Dovish RBNZ to Fuel Risk for NZD/USD H&S Formation

Growing bets for a Fed rate-hike paired with dovish comments from the RBNZ may trigger a near-term reversal pattern in NZD/USD amid the deviating paths for policy.

FOMC to Echo 2015 Rate Path; USD to Take Cues from Fresh Projections

The fresh projections from Fed officials may heavily influence the U.S. dollar outlook as the central bank appears to be following a similar path to 2015.

USD/JPY Risks Similar Reaction to July Bank of Japan (BoJ) Meeting

USD/JPY may face a similar reaction to the Bank of Japan’s (BoJ) July interest-rate decision should the central bank disappoint.

AUD/USD Stages Larger Recovery Ahead of RBA Minutes, Lowe Testimony

AUD/USD may continue to recoup the losses from earlier this month should the RBA largely endorse a wait-and-see approach for monetary policy.

Weekly Trading Forecast: Fed and BoJ Rate Decisions, Brexit Fears Carry More than Currency Risks

Event risk over the coming week will no doubt present a high level of volatility risk for key FX players. But, beyond the currency reactions, we will be tapping into themes essential to financial con...

GBP/USD to Shed August Rebound on Hawkish Fed Rate Decision

With market attention turning to the Federal Open Market Committee’s (FOMC) September 21 interest-rate decision, GBP/USD stands at risk of giving back the rebound from the August low (1.2854) s...

Strong U.S. Consumer Price Index (CPI) to Tame EUR/USD Resilience

A marked pickup in the U.S. Consumer Price Index (CPI) may undermine the near-term range in EUR/USD as it boosts bets for a Fed rate-hike.

NZD/USD Opening Monthly Range Remains Intact Ahead of RBNZ Meeting

NZD/USD may stage a larger recovery ahead of the RBNZ meeting as the pair appears to have made a failed run at the monthly low (0.7226).

GBP/USD at Risk for Relief Rally on Wait-and-See BoE

GBP/USD may stage a larger recovery over the near-term should the BoE talk down speculation for an imminent rate-cut.

Impressive 2Q New Zealand GDP Report to Fuel NZD/USD Advance

New Zealand’s 2Q Gross Domestic Product (GDP) report may fuel a larger advance in NZD/USD especially as the pair fails to test the monthly low (0.7226).

Retail AUD/USD Positioning Shifts- Outlook Turns Increasing Bearish

The broader outlook for AUD/USD is turning increasingly bearish as it fails to preserve the upward trend carried over from May, with the pair carving a near-term top.

AUD/JPY: Break of Support to Negate Inverse H&S Formation

AUD/JPY appeared to be carving an inverse head-and-shoulders formation during the summer months as the pair failed to preserve the bearish trend from July, but a break of the August low (76.05) may ne...

Persistent Net-Long USD/JPY Positioning Instills Bearish Outlook

Even though open interest narrows ahead of the key U.S. data prints, retail position appears to be getting stretched again as 74% of traders are long USD/JPY.

Firming U.K. Consumer Price Index (CPI) to Fuel GBP/USD Recovery

A marked pickup in U.K. inflation may fuel the near-term recover in GBP/USD as the BoE appears to be in no rush to further embark on its easing cycle.

GBP/USD Risks Larger Recovery Ahead of BoE Meeting on Sticky UK CPI

Signs of sticky UK inflation may encourage a larger recover in GBP/USD as the BoE remains reluctant to implement a zero-interest rate policy (ZIRP).

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