David Song

David Song

Currency Strategist

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Expertise:
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.

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GBPUSD Rate Breaks Bearish Sequence Despite Cautious BoE Rhetoric

Recent price action in GBP/USD raises the risk for a near-term rebound as the exchange rate fails to extend the series of lower highs & low from the previous week.

Post-Election AUDUSD Rebound Susceptible to Dovish RBA Minutes

The RBA Minutes may undermine the AUD/USD rebound following the Federal election if the central bank shows a greater willingness to further insulate the economy.

EURUSD Carves Bearish Series Amid Failure to Break May Opening Range

EUR/USD may consolidate over the coming days as it carves a fresh series of lower highs & lows following the failed attempt to break the monthly opening range.

Gold Fails to Test April-High as Fed Endorses Wait-and-See Approach

The recent advance in the price of gold sputters ahead of the April-high ($1311) as Federal Reserve officials endorse a wait-and-see approach for monetary policy.

AUDUSD RSI Approaches Oversold Zone Ahead of Australia Employment

Updates to Australia’s Employment Report may do little to influence the near-term outlook for AUD/USD, with the RSI in focus as it approaches oversold territory.

EURUSD Monthly Open Range in Focus Ahead of Germany GDP Report

Germany’s Gross Domestic Product (GDP) report may spark a bullish reaction in EUR/USD as the updates are anticipated to show a pickup in economic activity.

Subdued Australia Wage Price Index (WPI) to Keep AUDUSD Under Pressure

Another 2.3% print for Australia’s Wage Price Index (WPI) may do little to curb the recent decline in AUD/USD as it puts pressure on the RBA to implement a rate-cut.

Lackluster U.K. Employment Report to Drag on GBPUSD Rate

Updates to the U.K. Employment report may produce headwinds for the British Pound as the figures are anticipated to show a slowdown in both job and wage growth.

Weekly Trading Forecast: US-China Trade War Escalation Unnerves Risk

Complacency is increasingly dangerous with growth signals flagging and Trump considering another course trade conflict via autos.

AUDUSD Rate Outlook Mired by Monthly Opening Range, Dovish RBA

AUD/USD may continue to consolidate ahead of Australia’s Employment report as the RBA meeting fails to spur a break of the monthly opening range.

Weekly Trading Forecast: US-China Trade War Escalation Unnerves Risk

Complacency is increasingly dangerous with growth signals flagging and Trump considering another course trade conflict via autos.

Gold Prices Susceptible to Upbeat US Data Despite Threat of Trade War

The current environment may continue to drag on the price of gold as the Federal Reserve remains in no rush to alter the outlook for monetary policy.

Upbeat U.K. GDP Report to Curb GBP/USD Losses

Updates to the U.K. Gross Domestic Product (GDP) report may spark a rebound in GBP/USD as the growth rate is expected to pick up from the last three-months of 2018.

Oil Price Forecast: Bullish Momentum Abates Ahead of OPEC Meeting

The price of crude oil stands at risk for a larger pullback ahead of the OPEC meeting on May 19 as the bullish momentum abates.

EURUSD Rate Vulnerable to Strong U.S. Consumer Price Index (CPI)

Fresh data prints coming out of the U.S. economy may drag on EUR/USD should the data prints highlight a diminish threat for below-target inflation.

Post-RBA AUDUSD Rebound to Take Cues From China CPI

Updates to China’s Consumer Price Index (CPI) may influence the AUD/USD exchange rate as the reading for inflation is expected to increase to 2.5% from 2.3% in March.

Gold Price Outlook: May Opening Range on Radar Following Fed Meeting

Gold retraces the decline following the FOMC meeting, but the broader outlook warns of a shift in market behavior as a head-and-shoulders formation remains in play.

NZDUSD Rate to Eye November-Low on RBNZ Rate-Cut, Dovish Guidance

The Reserve Bank of New Zealand (RBNZ) interest rate decision may trigger a selloff in NZD/USD as the central bank is expected to deliver a 25bp rate-cut.

AUDUSD Outlook Hinges on RBA Meeting Amid Bets for 25bp Rate-Cut

The Reserve Bank of Australia (RBA) interest rate decision may trigger increased volatility in the AUD/USD exchange rate amid speculation for a 25bp rate-cut.

Weekly Technical Forecast: S&P 500, EURUSD, Oil from Tentative Breaks to Tentative Reversals

Little more than a week ago, it seemed that some of the key financial market benchmarks were signaling breakouts to extend critical trends. Now, heading into this new trading week, those same Dollar,...


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