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
Mixed
Oil - US Crude
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
Wall Street
Bearish
Gold
Bearish
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
  • 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: https://t.co/5uSWKoLkd6 https://t.co/37m2Ij6f2H
  • 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/aG5lue4jZ4
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/K4BUUCDVdB
  • 💶 GDP Growth Rate QoQ 2nd Est (Q2) Actual: -12.1% Expected: -12.1% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 GDP Growth Rate YoY 2nd Est (Q2) Actual: -15% Expected: -15% Previous: -3.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 Balance of Trade (JUN) Actual: €21.2B Expected: €12.6B Previous: €9.4B https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 GDP Growth Rate QoQ 2nd Est (Q2) Actual: -12.1 Expected: -12.1% Previous: -3.6% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇭🇰 GDP Growth Rate QoQ Final (Q2) Actual: -0.1% Expected: -0.1% Previous: -5.3% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 🇭🇰 GDP Growth Rate YoY Final (Q2) Actual: -9% Expected: -9% Previous: -9.1% https://www.dailyfx.com/economic-calendar#2020-08-14
  • 💶 GDP Growth Rate YoY 2nd Est (Q2) Actual: -9% Expected: -15% Previous: -3.1% https://www.dailyfx.com/economic-calendar#2020-08-14
US Dollar and Yen Surge as Stocks Crater. APAC Equities, AUD to Follow?

US Dollar and Yen Surge as Stocks Crater. APAC Equities, AUD to Follow?

2020-06-11 23:00:00
Dimitri Zabelin, Analyst
Share:

Australian Dollar, Stock Markets, Wall Street Trade, Asia-Pacific Equities, AUD/USD Analysis – TALKING POINTS

  • S&P 500, Nasdaq Dow Jones sink with AUD, NZD and NOK while anti-risk USD and JPY surged
  • Concern about growing coronavirus cases and derailment of smooth reopening soured sentiment
  • AUD/USD capitulation at early-January swing-high could mark the beginning of a broader pullback

Stock markets suffered their worst day since the selloff in global equities in March. The S&P 500, Dow Jones and Nasdaq indices closed 5.89, 6.90 and 5.27 percent lower, respectively. Foreign exchange markets reflected a similar risk-off tilt, with the session’s biggest losers being the petroleum-linked Norwegian Krone, and the cycle-sensitive Australian and New Zealand Dollars. The anti-risk Japanese Yen and US Dollar surged.

Both crude oil prices and the S&P 500 index broke their respective uptrends which cast a bearish shadow over each one’s future after they failed to clear their own resistance levels. The spread of credit default swaps (CDS) on sub-investment grade corporate debt widened amid concerns that a smooth reopening of the economy may be at risk, leaving borrowers with high levels of debt more vulnerable to default.

Friday’s Asia-Pacific Trading Session

The Japanese Yen’s and US Dollar’s strength will likely extend in Asia at the expense of regional equity markets and growth-oriented commodities like crude oil. The Australian and New Zealand Dollars may also surrender in the face of swelling selling pressure. Spreads on credit default swaps for regional debt may also continue to widen and put a premium on anti-risk assets and a discount on their growth-oriented counterparts.

AUD/USD Analysis

AUD/USD was recently rejected at the upper tier of the 0.6911-0.7018 resistance range, a familiar stalling point dating back to early January. The pair’s inability to clear that six-month swing-high was met with disappointment – as marked by the over two-percent drop below 0.6911. This may be the beginning of a broader pullback, though sellers may encounter some downside friction at 0.6642.

AUD/USD – Daily Chart

Chart showing AUD/USD

AUD/USD chart created using TradingView

--- Written by Dimitri Zabelin, Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitriTwitter

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

DISCLOSURES

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.