We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • #Gold Price Technical Outlook: $XAUUSD Correction Approaching Support - https://t.co/XCkrdESFN4 https://t.co/wlvI0myFZm
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: -0.01% 🇨🇦CAD: -0.02% 🇯🇵JPY: -0.18% 🇳🇿NZD: -0.43% 🇬🇧GBP: -0.77% 🇦🇺AUD: -0.84% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rAo0MfnXVB
  • Heads Up:🇺🇸 Fed Bullard Speech due at 16:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-05-27
  • Indices Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.91% US 500: 0.14% FTSE 100: 0.12% France 40: 0.06% Germany 30: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hZuIomNwSE
  • The United States will not certify the autonomy of Hong Kong, putting its trade status in danger - BBG
  • RT @Lagarde: I am heartened to see this common European answer to the economic difficulties resulting from the coronavirus pandemic. #Stron…
  • Hey traders! With the bullish bias in the past few days, what are some highlights we are getting into today? Find out 👇 from @DailyFX Chief Strategist, @JohnKicklighter ! https://t.co/eXO2YWutRY
  • https://t.co/Mi7kAVUVOI
  • El crudo #WTI se juega los 35$ por barril en un marco político preocupante #oil #petroleo #trading https://t.co/B6NjYvTgs8
  • Austria's Kurz says EU plan's loan vs grant split and size needs to be debated $EUR
Australian Dollar Cross Pick 07.11.2012

Australian Dollar Cross Pick 07.11.2012

2012-07-11 20:10:00
David Song, Strategist
Share:

The AUDNZD climbed to a fresh monthly high of 1.2861 ahead of Australia’s employment report, but the fresh batch of data may drag on the exchange rate should it dampen the fundamental outlook for the $1T economy. Although job growth is expected to hold flat in June, the unemployment rate is expected to increase to 5.2% from 5.1% in May, and a dismal development may ultimately produce a reversal in the AUDNZD as it raises the scope for another rate cut by the Reserve Bank of Australia.

As the AUDNZD struggles to push back above the 38.2% Fibonacci retracement from the 2011 high to low around 1.2650-60, we should see the downward trend from 2011 continue to take shape, and we may have an opportunity to get back short the AUDNZD should the data fall short of market expectations. According to Credit Suisse overnight index swaps, market participants see the RBA lowering the interest rate by another 100bp over the next 12-months while the RBNZ is expected to sit pat, and the deviation in the policy outlook continues to foster a bearish outlook for the pair as Governor Glenn Stevens continues to embark on the easing cycle.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.