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
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
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
GBP/USD
Mixed
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
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/X15k6b4ZyB
  • The month of May saw equities rise across the board. The #Dow Jones and #DAX 30 will look to hold above nearby support while the #Nasdaq 100 may look to attack all-time highs. Get your #equities market update from @PeterHanksFX here: https://t.co/dQxkG68R0I https://t.co/cgfcOs14qG
  • There is a dramatic departure between yield curve pricing for a recession and other measures of near-term growth; the Q2’20 Atlanta Fed GDPNow is extremely alarming.Get your market update from @CVecchioFX here: https://t.co/eMd3T8EwDO https://t.co/56oUP6we9U
  • The #DAX has now closed the gap from the beginning of March with the index breaking above 61.8% fib at 11592. Get your DAX market update from @JMcQueenFX here: https://t.co/wr67nkxc8z https://t.co/CkxPZn1v3t
  • Emerging market currencies haven’t been treated equally by the effects of global contagion, even if most have suffered to some degree. However withdrawal of investment flows could hit them all. Get your market update from @DavidCottleFX here:https://t.co/QzNoNYgMgP https://t.co/9CV6iZt40j
  • My weekend trading video: 'S&P 500 Rises on Trump China Presser, #NFPs and Rate Decisions Ahead' https://www.dailyfx.com/forex/video/daily_news_report/2020/05/30/SP-500-Rises-on-Trump-China-Presser-NFPs-and-Rate-Decisions-Ahead.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/ZvoGoibzj1
  • Hopes are high for deeper European economic integration as the continent battles back from the coronavirus slowdowns – but will it hold? What impact can this have on #Euro? Find out from @JStanleyFX here: https://t.co/b9ZWRd4cTr https://t.co/gngm5tKqjz
  • The US Dollar could rise against #ASEAN currencies such as the Singapore Dollar as US-China tensions seem to escalate. The Indian Rupee is also looking ahead of local 1Q GDP data.Get your market update from @ddubrovskyFX here:https://t.co/LkEFJViPWY https://t.co/iL7xlHLBiF
  • #Gold has a short-term bullish set-up that may play nicely with USD weakening. The longer and shorter-term path of least resistance remains higher. Get your $XAUUSD technical analysis from @PaulRobinsonFX here:https://t.co/6gt3F9LuGP https://t.co/B4MVrg8f6i
  • The AUD may suffer as relations between Australia and China deteriorate amid dwindling growth prospects. Euro traders will be closely watching progress in talks about a €500b recovery fund proposal. Get your market update from @ZabelinDimitri here: https://t.co/LkEFJViPWY https://t.co/Fo1wlWyz8r
Australian Dollar at Risk as AUD/USD Descends, Yen May Fall Ahead

Australian Dollar at Risk as AUD/USD Descends, Yen May Fall Ahead

2020-04-02 00:00:00
Daniel Dubrovsky, Analyst
Share:

Australian Dollar, AUD/USD, US Dollar, Japanese Yen, Wall Street – Asia Pacific Market Open

Australian Dollar Drops Alongside Global Equities as US Dollar Gains

The sentiment-linked Australian Dollar was one of the worst-performing major currencies Wednesday as Wall Street traded in the red. The S&P 500 and Dow Jones closed -4.41% and -4.44% to the downside respectively, reflecting a pessimistic mood that prevailed throughout the Asia Pacific and European sessions. This followed a warning from US President Donald Trump who alluded to a “painful” two weeks amid the coronavirus.

Demand for safety and liquidity boosted the haven-linked US Dollar and similarly-behaving Japanese Yen. There was a cautious boost in sentiment after gauges of US manufacturing activity printed more optimistic than anticipated. Nevertheless, selling pressure resumed course into the close as the growth-linked Canadian Dollar followed lower alongside the New Zealand Dollar.

Thursday’s Asia Pacific Trading Session

S&P 500 futures are pointing higher heading into Thursday’s Asia Pacific trading session. The Federal Reserve announced that it will be temporarily excluding treasuries and deposits in leverage rules. This easing in capital requirements might have helped dim the sour mood in equities. This is as Trump could be looking into domestic travel limits for virus hot spots.

If the optimistic tone prevails, it could help to diminish anticipated losses in APAC equities such as the Nikkei 225 and ASX 200. That may trim recent losses that AUD/USD and NZD/USD experienced over the past 24 hours. This may also bode ill for the Japanese Yen. Follow-through is uncertain with global major benchmark stock indexes appearing to struggle with pushing through trend-defining resistance.

Starts in:
Live now:
Jun 03
( 00:06 GMT )
Recommended by Daniel Dubrovsky
What Do Other Traders Buy/Sell Bets Say About Price Trends?
Register for webinar
Join now
Webinar has ended

Australian Dollar Technical Analysis

AUD/USD could be readying to reverse the bounce off lows from last month. This follows a break under key rising support on the 4-hour chart below – blue line. This is as “potential” resistance could guide the pair cautiously lower – pink line. A descent through 0.6050 exposes 0.5868. Otherwise a push above 0.6214 would resume the uptrend.

AUD/USD BULLISH
Data provided by
of clients are net long. of clients are net short.
Change in Longs Shorts OI
Daily -17% -6% -9%
Weekly -8% -2% -4%
What does it mean for price action?
Get My Guide

AUD/USD 4-Hour Chart

Australian Dollar at Risk as AUD/USD Descends, Yen May Fall Ahead

Chart Created Using TradingView

--- Written by Daniel Dubrovsky, 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

News & Analysis at your fingertips.