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
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • (Market Alert) Australian Dollar Pops on RBA as Taper Plan is Left Alone, Now What? #AUD $AUDUSD #RBA
  • RT @KyleR_IG: "We need to boost confidence. So we should stimulate. But maybe people will know we are trying to boost confidence. And then…
  • $AUDUSD popping on the #RBA The central bank will continue to buy A$5b/week of bonds until early September, then tapering to 4b until at least mid-Nov Traders likely unwinding bets that the RBA could have reversed prior decision on asset purchases
  • RBA: Sees gradual pickup in wages growth, underlying inflation. Sees some increase in unemployment rate in near-term -BBG
  • RBA: GDP to decline in September quarter, experience shows economy bounces back quickly. Economy still expected to grow strongly again next year -BBG
  • RBA: Condition for rate rise will not be met before 2024, sees Australia growing 'little over' 4% in 2022 -BBG
  • RBA sticks with taper plan -BBG #AUD $AUDUSD
  • 🇦🇺 RBA Interest Rate Decision Actual: 0.1% Expected: 0.1% Previous: 0.1%
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.72%, while traders in France 40 are at opposite extremes with 78.97%. See the summary chart below and full details and charts on DailyFX:
US Dollar Dips to Find Support, NZD/USD Surges - US Market Open

US Dollar Dips to Find Support, NZD/USD Surges - US Market Open

Justin McQueen, Analyst

US Dollar, NZD Analysis & News

  • Coronavirus Drug Hopes and Economy Re-openings Boosts Sentiment
  • US Dollar Weakens on Renewed Optimism
  • New Zealand Dollar Edges Higher

Equities: Equity markets are firmly in the green with risk assets supported by increased hopes over the effectiveness of the Remdesivir drug in treating patients with coronavirus. Alongside this, markets have also taken kindly to plans by the Trump administration to reopen the US economy. Subsequently, risk sentiment has shrugged off the extremely weak Chinese data, in which GDP contracted by 6.8%, against expectations for a drop of 6.5% (first contraction since 1992).

However, in light of the optimism surrounding Gilead’s drug trial, the company had later stated that the anecdotal data does not provide statistical power to determine safety and efficacy and thus the current rally in risk may be somewhat of an overreaction, leaving equities vulnerable to a fade. That said, eyes will be on the phase 3 results due to be released at the end of this month.

USD: Broad based dollar losses, particularly against high beta currencies (AUD, NZD). That said, the greenback remains within close proximity to the 100 handle. As such, with the macro backdrop continuing to remain fragile, dollar dips may find support from 99.50.

NZD: A strong showing for the New Zealand Dollar, gaining over 1.1% while cross-related selling in AUDNZD after the rejection from 1.06 has also provide a boon for the Kiwi. However, with NZDUSD struggling at 0.6040 this raises the risk of a pull-back in the short-term.

US Dollar Dips to Find Support, NZD/USD Surges - US Market Open

Source: Refinitiv, DailyFX

Economic Calendar (17/04/20)

US Dollar Dips to Find Support, NZD/USD Surges - US Market Open

Source: DailyFX,


  1. British Pound (GBP) Latest: GBP/USD Sell Off Eyes Support by Nick Cawley, Market Analyst
  2. DAX, Euro Stoxx 50 Outlook: Coronavirus Vaccine Hopes Risks Being Faded” by Justin McQueen, Market Analyst
  3. USD/MXN – US Dollar Trying to Build a Strong Base vs Mexican Peso by Paul Robinson, Market Analyst

--- Written by Justin McQueen, Market Analyst

Follow Justin on Twitter @JMcQueenFX

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