David Song

David Song

Currency Analyst

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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.



Lackluster Australia Employment Report to Drag on AUD/USD Rate

Updates to Australia’s Employment report may do little to alter the near-term outlook for AUD/USD as the economy is anticipated to add 18.0K jobs in December.

EUR/USD Rate Vulnerable to Dovish European Central Bank (ECB)

The European Central Bank (ECB) meeting may drag on EUR/USD as the Governing Council remains in no rush to remove the zero-interest rate policy (ZIRP).

Oil Risks Larger Recovery as Inverse Head-and-Shoulders Takes Shape

Ongoing efforts by the OPEC and its allies may spur a larger recovery in crude oil prices as an inverse head-and-shoulders formation takes shape.

Weekly Fundamental Forecast: Trade Wars, Chinese GDP and Rate Decision Bridge Themes and Event Risk

Risk appetite continues to gain a foothold across the market spectrum, but where is this enthusiasm coming from?

USD/JPY Extends Flash-Crash Rebound, RSI Threatens Bearish Formation

The recent series of higher highs & lows in USD/JPY raises the risk for a larger correction as the exchange rate breaks out of a narrow range.

Slowing China GDP to Curb AUD/USD Flash-Crash Rebound

Fresh data prints coming out the Asia/Pacific region may drag on AUD/USD as China is expected to grow at the slowest pace since the Great Financial Crisis (GFC).

Lackluster Canada Consumer Price Index (CPI) to Curb USD/CAD Losses

Updates to Canada’s Consumer Price Index (CPI) may do little to alter the near-term outlook for USD/CAD as the reading is expected to hold steady at 1.7%.

Gold Prices Vulnerable Ahead of FOMC as Bullish Momentum Abates

Gold stands at risk for a larger pullback ahead of the Federal Reserve meeting as the bullish momentum appears to be abating.

USD/JPY Flash-Crash Rebound Fuels Expansion in Retail Short Exposure

The USD/JPY flash-crash rebound appears to be spurring a shift in retail interest, with the recovery in the exchange rate fueling a jump in net-short exposure.

USD/CAD Forecast: Bear-Flag Take Shape Amid Less-Hawkish Fed Rhetoric

Recent price action raises the risk for a further decline in USD/CAD as the exchange rate carves a bear-flag formation.

EUR/USD Snaps Bullish Sequence, RSI Clings to Upward Trend

The recent breakout in EUR/USD appears to be unraveling, with the exchange rate at risk of facing further losses it snaps the bullish series from the previous week.

AUD/USD Open Range Favors Flash-Crash Rebound Amid Shift in Sentiment

The AUD/USD rebound from the flash-crash low (0.6745) may continue to materialize over the near-term as the pickup in volatility spurs a shift in retail sentiment.

USD/CAD Bear-Flag Starts to Take Shape Amid Shift in Retail Interest

The failed attempt to test the December-low (1.3160) appears to be spurring a shift in retail USD/CAD interest even as a bear-flag formation starts to take shape.

Weekly Fundamental Forecast: Trade Wars, Government Shutdown and Brexit Threaten to Stir Volatility

While this past week saw markets settle further from the unusually volatile December, traders should not grow too comfortable. There are a host of themes – from the US government shutdown to im...

USD/JPY Flash-Crash Rebound Looks to U.S. Retail Sales for Fuel

Data prints coming out of the U.S. economy may fuel the USD/JPY rebound following the flash-crash if the developments instill an improved outlook for growth and inflation.

USD/JPY Flash-Crash Rebound Stalls, U.S. CPI Fails to Impress

USD/JPY may continue to consolidate following the limited reaction to the U.S. CPI as the exchange rate snaps the series of higher highs & lows from earlier this week.

Slowing U.S. Consumer Price Index (CPI) to Fuel EUR/USD Breakout

Updates to the U.S. Consumer Price Index (CPI) may fuel the recent breakout in EUR/USD as the headline reading is projected to slow to 1.9% from 2.2% in November.

Upbeat Australia Retail Sales Report to Fuel Bullish AUD/USD Series

Australia’s Retail Sales report may fuel the recent series of higher highs & lows in AUD/USD as consumption is projected to increase another 0.3% in November.

Crude Oil Breaks Out of Downward Trend Following Oversold Reading

Efforts by OPEC and its allies to stabilize the energy market may generate a larger correction in crude as oil prices break out of the downward trend from late-2018.

EUR/USD Breaks Out as Fed Officials Endorse Wait-and-See Policy

EUR/USD breaks out of the range-bound price action carried over from late-2018 as Federal Reserve officials show a greater willingness to delay the next rate-hike.