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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Wall Street
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
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • GBP/USD’s consolidation could end soon if price breaks out of a symmetrical triangle in play since July. At this time, a downside breakout is likely following the appearance of a death cross. Get your weekly $GBP forecast from @DColmanFX here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • The Federal Reserve rate decision is likely to sway the near-term outlook for the price of gold as the central bank appears to be on track to scale back monetary support. Get your weekly gold forecast from @DavidJSong here:
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here:
  • RT @FxWestwater: Japanese Yen Forecast: JPY Crosses Eye BoJ, CPI as Haven Flows Bolster Yen Strength Link: https:/…
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
AUD/USD and NZD/USD Rates Soar on the Fed, Powell to Resistance

AUD/USD and NZD/USD Rates Soar on the Fed, Powell to Resistance

Daniel Dubrovsky, Strategist

Asia Pacific Market Open Talking Points

  • Australian and New Zealand Dollars soar with S&P 500 on the Fed
  • US Dollar declines across the board, EUR/USD clears key trend line
  • AUD/USD, NZD/USD eyeing critical resistance ahead of event risk

AUD/USD, NZD/USD Soar on Fed and Chair Powell Press Conference

The sentiment-linked Australian Dollar and New Zealand Dollar soared against the Greenback on Thursday. All eyes were on the last Federal Reserve monetary policy announcement of this year, with markets pricing in a scenario for one 25bp reduction in 2020. Gauging the market reaction, the central bank appeared to not disappoint. This is despite the dot plot signaling rates being left unchanged next year.

At his press conference, Chair Jerome Powell highlighted that the central bank would like to see “a significant move-up in inflation” before considering support for rate hikes. This helped to drive dovish expectations for the medium-term as local government bond yields declined across the board. Wall Street also cheered the Fed as the S&P 500 and Dow Jones rallied 0.29 and 0.11 percent respectively by the close.

The anti-risk Japanese Yen also underperformed as the upbeat mood in investors likely fueled carry trade. Anti-fiat gold prices rallied at the expense of the Greenback and bond yields. This is as the US Dollar weakened against the Euro, with EUR/USD closing above a key descending trend line from June. The British Pound also recovered from yesterday’s YouGov poll.

Thursday’s Asia Pacific Trading Session

There may be some room to be had for Asia Pacific benchmark stock indexes to follow Wall Street higher today. That may continue driving selling pressure in JPY as AUD/USD and NZD/USD rally. There still remain plenty of critical event risk this week, limiting the scope for follow-through with volatility looming. These include the ECB rate decision, the UK General Election and the December 15 US-China tariff deadline.


Australian Dollar Technical Analysis

AUD/USD now sits squarely on the defining descending trend line from the end of last year. Prices were unable to breach this psychological boundary. A daily close above resistance ought to require confirmation to signal a reversal of trend. This is especially with the October highs lurking just above (0.6894 – 0.6929). A turn lower would place the focus on near-term support at 0.6800 and 0.6754.

Charts of the Day – AUD/USD

AUD/USD and NZD/USD Rates Soar on the Fed, Powell to Resistance

Chart Created Using TradingView

New Zealand Dollar Technical Analysis

This is as NZD/USD approaches what could be a potential falling trend line from March – red-dashed line on the chart below. Prices have maintained upside momentum after the breach above an Ascending Triangle bullish chart pattern. A turn lower from here places the focus on the ceiling of the triangle at 0.6465. A daily close above the trend line may pave the way for a test of the next psychological barrier (0.6663 – 0.6682).

Charts of the Day – NZD/USD

AUD/USD and NZD/USD Rates Soar on the Fed, Powell to Resistance

Chart Created Using TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for

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.