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
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
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
USD/JPY
Bullish
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
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/YjUfOUY3vU
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.30% 🇨🇭CHF: -0.41% 🇬🇧GBP: -0.62% 🇨🇦CAD: -1.12% 🇳🇿NZD: -1.87% 🇦🇺AUD: -2.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/ZdHY0q1ocW
  • #Gold Price Forecast: Gold Breakdown Accelerates – $XAUUSD Bulls Done? - https://t.co/uATlmZg8g6 https://t.co/vIbhg5HOko
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.20% Gold: -2.10% Silver: -2.97% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UVS4Dowq2o
  • Nasdaq ETF QQQ sees its largest outflow in a month as investors shied away from tech stocks. Get your #Nasdaq market update here:https://t.co/tQU09WVHMD https://t.co/onCVQl0xay
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.13%, while traders in GBP/JPY are at opposite extremes with 67.63%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/PYZh1az5EC
  • Crude extends yesterday's losses, falls by nearly 3% $WTI $USD https://t.co/oflSuTFd5E
USD Prices Mostly Resilient on FOMC Minutes, AUD/USD May Fall Next

USD Prices Mostly Resilient on FOMC Minutes, AUD/USD May Fall Next

Daniel Dubrovsky, Strategist

Asia Pacific Market Open – FOMC Minutes, USD, S&P 500, AUD/USD

  • S&P 500 halts near-term uptrend as resistance held ahead of the G20 Leaders’ Summit
  • FOMC minutes fail to offer meaningful weakness to USD after yesterday’s Powell talk
  • AUD/USD struggling to push above trend line, may reverse near-term uptrend ahead

Just getting started trading? See our beginners’ guide for FX traders to learn how you can apply this in your strategy!

The S&P 500 halted a 3-day winning streak on Thursday as it was tamed by a falling resistance line from October. Towards the end of the US trading session, equities gave up some of their gains which stemmed from hopes of a US China trade deal at this weekend’s G20 Leaders’ Summit in Argentina. Earlier in the day, President Donald Trump said that he is close to doing something with China.

The last minute selloff might have reflected doubts about a resolution between the world’s largest economies given conflicting signals out of the White House in recent weeks. On the sidelines, within an hour of Trump advocating for a meeting between him and Russia’s President Vladimir Putin at the summit, he cancelled plans for one altogether.

This is a step back against prospects of Russia’s President discussing oil prices with his US counterpart after Mr. Putin showed restraint towards OPEC production cuts. Crude oil finished the day about two percent higher. Meanwhile the US Dollar failed to find significant follow through after comments from Fed Chair Jerome Powell sunk it yesterday.

The US Dollar did see a little bit of weakness on the FOMC minutes, but price action was relatively restrained within intraday performance. The document showed that all Fed officials saw gradual hikes as consistent with their goal. They also outlined the case for a rate hike in December which seems almost certainly in the cards. Going forward, many officials said that they need a more data-dependent focus.

With that in mind, Asia Pacific benchmark indexes may trade little changed as traders may be hesitant to take on bets before the G20 meetup. We do have Chinese Manufacturing PMI data that will cross the wires. Should this key Asian economy show further signs of economic weakness, it may spell pessimism in regional bourses and perhaps send a couple of ASEAN currencies lower.

Australian Dollar Technical Analysis

The Australian Dollar could be looking at a turn lower next now that the descending resistance line from July kept prices from rising further. Resistance has formed around 0.7338 coupled with negative RSI divergence which signals fading upside momentum. Should AUD/USD turn lower, it may eye support at 0.7203.

AUD/USD Daily Chart

USD Prices Mostly Resilient on FOMC Minutes, AUD/USD May Fall Next

Chart created in TradingView

US Trading Session

USD Prices Mostly Resilient on FOMC Minutes, AUD/USD May Fall Next

Asia Pacific Trading Session

USD Prices Mostly Resilient on FOMC Minutes, AUD/USD May Fall Next

** All times listed in GMT. See the full economic calendar here

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES