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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
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
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/cQwbeZ6Feq
  • #Oil prices saw a reprieve to the recent selling pressure but remain at risk while below downtrend resistance. Here are the levels that matter on the #WTI technical chart. Get your #commodities update from @MBForex here: https://t.co/CcXsF3JCMH https://t.co/RUmS1cX52v
  • 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/boEI8RuQdC
  • The growth-linked New Zealand Dollar may rise on the upcoming #RBNZ rate decision following rosy economic data. However, downside potential in the S&P 500 could offset $NZDUSD gains. Get your #currencies update from @ddubrovskyFX here: https://t.co/LfCe6C6G3P https://t.co/kUeBxxeaEf
  • It was a quiet week in Aussie as $AUDUSD put in its second consecutive week of indecision. But taking a more granular look highlights the potential for a reversal scenario. Get your #currencies update from @JStanleyFX here: https://t.co/PPK20nubAf https://t.co/0nfmRRFNnz
  • The S&P 500 pushed the market's comfort with a head-and-shoulders pattern through Friday's close. What should we look for in technical patterns, overlapping fundamental tides and speculative positioning for the likes of $EURUSD next week? https://www.dailyfx.com/forex/video/daily_news_report/2020/09/19/EURUSD-Pressure-Building-while-Anxious-Traders-Weigh-Did-SP-500-Break.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/lgVJVwi8th
  • Sterling remains trapped by overarching fundamentals drivers and both $GBPUSD and $EURGBP are going to have to wait until the Brexit dust settles. Get your #currencies update from @nickcawley1 here: https://t.co/vF1K1cy0nd https://t.co/NSA7qiQihc
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/d9EmTOHyTv
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
Aussie Rises Despite Challenged Future for PM Gillard

Aussie Rises Despite Challenged Future for PM Gillard

2013-06-26 09:30:00
Benjamin Spier, Technical Strategist
Share:

EUROPEAN SESSION UPDATE: ECB Draghi reiterates accommodative stance; German growth predicted well above the Bundesbank forecast…

The Aussie is up, the Pound is down, and ECB President Draghi still sounds unsure if the central bank will further loosen monetary policy; that is the picture painted at the halfway point through today’s European session.

One of the biggest stories of the day, although one that does not seem to be affecting Forex trading, is the upcoming Australian ballot for the leadership of the ruling Labor party. Prime Minister Gillard agreed to the ballot, which is set to take place at 09:00 GMT, following opposing Rudd’s plan to force a leadership vote. The winner of the ballot will run as labor’s candidate in the September elections for premier, and polls currently see Gillard decisively loosing those elections on the Labor ticket. It also seems as though Gillard might step down right away if she looses the ballot.

The Australian Dollar does not look like it has reacted significantly to the elections story, and it does not seem like there is a clear direction for the Aussie associated with the election results as there has been in other elections, e.g. the vote for Japan PM Abe. AUD/USD has risen above 0.9300 in today’s trading, but that may have just been a reaction to market wide risk-on trading, as can also be seen in Kiwi trading.

ECB President Draghi spoke in Paris today, where he made a lot of comments that Forex traders have already heard in the past few weeks. Some of Draghi’s comments included his prediction for a Euro-zone recovery at the end of the year , but a commitment to the continuation of accommodative policy.

There were few economic releases today, and the biggest release is likely to be the Bank of England’s financial stability report. In Germany, the GFK consumer confidence survey rose to 6.8 for July, and the IFO said today that it expects the German economy to grow 0.6% in 2013, double the Bundesbank’s most recent growth forecast.

(How does a Currency War affect your FX trading? Take our free course to find out!)

AUDUSD Daily: June 26, 2013

Aussie_Rises_Despite_Undetermined_Future_for_PM_Gillard_body_audusd.png, Aussie Rises Despite Challenged Future for PM Gillard

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES