News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • #Gold prices succumbed to selling pressure as the US Dollar soared this past week What is #XAUUSD facing these next few days and can these fundamental forces extend its selloff? Check out my outlook here - https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/09/26/Gold-Price-Outlook-Rising-US-Dollar-Sinks-XAUUSD-Will-Losses-Extend.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/gPhy0KoW3W
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/38gTDnpPbn https://t.co/Xtk5g4JQEB
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/3Wked6GBOp https://t.co/SsUguHB39W
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/aD1ZWhTWZp
  • The price of #oil may continue to trade in a narrow range as the rebound from the September low ($36.13) appears to have stalled ahead of the month high ($43.43). Get your #commodities update from @DavidJSong here: https://t.co/719LgjFmYG https://t.co/SSoqjONUzA
  • The Australian Dollar may extend its slide lower despite the planned easing of Covid-19 restrictions, as the market continues to price in an RBA rate cut on October 6. Get your #currencies update from @DanielGMoss here: https://t.co/HJpngnerzY https://t.co/g6X8ABQDwY
  • The Indian Rupee may be at risk to the US Dollar as USD/INR attempts to refocus to the upside. This is as the Nifty 50, India’s benchmark stock index, could fall further. Get your USD/INR market update here:https://t.co/ed4QR7QQOn https://t.co/gDWYNtm2UY
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/Q7TcbrYXjl
  • #Gold prices have plunged nearly 11% off the record highs with a breakout risking further losses. Here are technical trade levels that matter on the XAU/USD weekly chart. Get your #metals update from @MBForex here: https://t.co/7p3jPx6nQd https://t.co/yxymjCHti6
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/yZzArpGs2h
Top 5 Events: April RBA Meeting & AUDUSD Price Outlook

Top 5 Events: April RBA Meeting & AUDUSD Price Outlook

2019-04-01 21:00:00
Christopher Vecchio, CFA, Senior Strategist
Share:

Talking Points:

- The Reserve Bank of Australia meets on Tuesday, April 2 at 03:30 GMT.

- Rates markets are currently pricing in only a 4% chance of a rate move this coming week, but the odds of a rate cut by the end of the summer are rising.

- Retail traders have flipped to net-long AUDUSD in recent days.

Join me on Mondays at 7:30 EDT/11:30 GMT for the FX Week Ahead webinar, where we discuss top event risk over the coming days and strategies for trading FX markets around the events listed below.

04/02 TUESDAY | 03:30 GMT | AUD RESERVE BANK OF AUSTRALIA RATE DECISION

The two big data releases since the last RBA meeting – the Q4’18 GDP report and the February jobs report – both showed signs of a slowing economy. With Australia’s two largest trading partners embroiled in the US-China trade war, there are reasons both at home and abroad for the Reserve Bank of Australia to take on a dovish tone, much like the RBNZ last week.

Top 5 Events: April RBA Meeting & AUDUSD Price Outlook

Like its antipodean counterpart last week, odds for a move by the Reserve Bank of Australia at its forthcoming meeting are practically absent: there is only a 3.9% chance of a 25-bps rate cut on Tuesday. Economic data momentum has been stable over the past month, with the Citi Economic Surprise Index for Australia having started March at 2.7 and closing March at 3.9.

Pairs to Watch: AUDJPY, AUDNZD, AUDUSD

AUDUSD Price Chart: Daily Timeframe (August 2018 to April 2019)

Top 5 Events: April RBA Meeting & AUDUSD Price Outlook

Since establishing a bullish outside engulfing bar on March 20, AUDUSD has made little topside progress. Over the past week-plus, AUDUSD has not seen a close outside of the March 20 high/low range, only but once trading outside of the 0.7057 to 0.7150 range. But the recent range is simply one within a broader consolidation, what appears to be a symmetrical triangle dating back to early-December. Accordingly, a topside break of 0.7150 would run into resistance near the late-February high at 0.7207; a downside break of 0.7057 would might find support near the early-March low at 0.7003.

Read more: US Dollar Starts New Month, Quarter with Inside Day; Brexit Latest

FX TRADING RESOURCES

Whether you are a new or experienced trader, DailyFX has multiple resources available to help you: an indicator for monitoring trader sentiment; quarterly trading forecasts; analytical and educational webinars held daily; trading guides to help you improve trading performance, and even one for those who are new to FX trading.

--- Written by Christopher Vecchio, CFA, Senior Currency Strategist

To contact Christopher, email him at cvecchio@dailyfx.com

Follow him in the DailyFX Real Time News feed and Twitter at @CVecchioFX

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

DISCLOSURES