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.



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
Oil - US Crude
Wall Street
More View more
Real Time News
  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.16% 🇯🇵JPY: -0.02% 🇬🇧GBP: -0.11% 🇦🇺AUD: -0.16% 🇪🇺EUR: -0.24% 🇨🇭CHF: -0.33% View the performance of all markets via
  • Mexican Peso Price Forecast: USD/MXN Above 20.00 as Bulls Break Out $MXN $USDMXN
  • Indices Update: As of 17:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.23% FTSE 100: 0.23% France 40: 0.22% US 500: -0.11% Wall Street: -0.54% View the performance of all markets via
  • $USDCAD rose to an intraday high near 1.2780, its highest level since last Monday, before turning downward to trade slightly lower. $USD $CAD
  • Hey traders! Get your Monday market update from @DailyFX Chief Strategist @JohnKicklighter 👇
  • US Indices pared their earlier gains and have all fallen into the red as trading session advances. DOW -0.87% NDX -0.08% SPX -0.46% RUT -1.03% $DOW $QQQ $SPY $IWM
  • The price of gold is stuck in a small range in early turnover as traders ready themselves for a busy week of potentially market-moving data releases and events. Get your $XAUUSD market update from @nickcawley1 here:
  • ECB President Lagarde: - Hope is still that 2021 is year of recovery - Euro-area growth in Q4 was negative - Recovery has been delayed but not derailed #ECB $EUR
  • #Gold fell back to around $1,850 after testing and rejecting its upper range for the last two weeks as it climbed to a morning high around $1,867. $XAU $GLD
  • Game Stop's surge on the open seemed to knock on to TSLA with some throttling and on to FAANG members with further restraint while the Nadsdaq gapped 1.1% to the upside. NDX/SPX ratio hit a record but it all has started to ease off since the opening drive
Australian Dollar Outlook: AUD/USD May Rise, Overbought Conditions Eyed

Australian Dollar Outlook: AUD/USD May Rise, Overbought Conditions Eyed

Thomas Westwater, Contributor

Vaccine Optimism, Australian Dollar, AUD/USD– Talking Points

  • AUD/USD pushes higher as vaccine news underpins traders’ sentiment
  • US Dollar struggles further as the vaccine-driven 2021 outlook strengthens
  • Lack of economic data prints leave sentiment and technicals to drive price

U.S. markets continued to enjoy a risk-on tilt Thursday as vaccine hopes boost economic prospects for 2021. The Dow Jones Industrial Average rose 0.29%, and the tech-heavy Nasdaq 100 managed to pull off a slight 0.09% gain. However, volatility did tick higher with the VIX index rising to its highest level since November 30 at 21.4.

The rise in volatility may hint that traders are starting to hedge equity positions. Thus, a near-term top may likely play out in U.S. equity indexes. The US Dollar’s (DXY) recent weakness accelerated, dropping under the 91 handle. Despite the rise in volatility, the Greenback’s decline is a reflection of growing global optimism around a strong economic recovery in 2021 as vaccine headlines continue to drop. In fact, the U.K. was the first western nation to announce the approval of a Covid-19 vaccine earlier this week.

Dow Jones, US Dollar, VIX Index – One Hour Chart


Chart created with TradingView

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by Thomas Westwater
Improve your trading with IG Client Sentiment Data
Get My Guide

Friday’s Asia-Pacific Outlook:

The Asia-Pacific session is on track to close out the first week of December on a solid bullish footing. The sentiment-linked Australian Dollar rose above its 2020 high earlier this week, bolstered by an upbeat GDP report. Today’s session will be lacking in major data prints according to the DailyFX Economic Calendar. Australia will release finalized retail sales for October. Later in the day, the Reserve Bank of India is set to release an interest rate decision. India's benchmark rate is expected to remain at 4% according to economists' forecasts.

The relatively quiet session will likely leave price action at the whim of market sentiment carried over from the U.S. session. Headline-related risks are possible on vaccine news, but technical levels are likely to drive trading. That said, AUD/USD may continue its push into higher territory. Current levels appear to be nearing overextended territory with RSI approaching 70. Still, the prevailing sentiment may see further upside movement. Any pullback may be short-lived. For now, the biggest risk would be a breakdown in global sentiment, but bulls may concede to a short pullback before moving higher.

AUD/USD Daily Chart

Australian Dollar Outlook: AUD/USD May Rise, Overbought Conditions Eyed

Chart created with TradingView


--- Written by Thomas Westwater, Analyst for

To contact Thomas, use the comments section below or @FxWestwateron Twitter

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