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
Wall Street
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
  • The Australian Dollar has retraced from August lows when looking at AUD/JPY and AUD/CAD. However, the AUD/NZD downtrend is intact, will a reversal there appear as well? Find out:
  • The S&P 500, Dow Jones and DAX 30 could be at risk of falling as retail traders continue increasing their upside exposure in these indices. What are the key technical levels to watch for? Find out from @ddubrovskyFX here:
  • The US Dollar continues to hold its ground against most ASEAN currencies as recent downtrends lose momentum. What is the road ahead for USD/SGD, USD/THB, USD/PHP and USD/IDR? Find out from @ddubrovskyFX here:
  • The Canadian Dollar has been caught in broad ranges against the Euro and the US Dollar, but can the upside bias in USD/CAD and EUR/CAD prolong? Find out here:
  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link:…
AUDUSD Rebound at Risk as Growth Slows- Key Levels to Watch

AUDUSD Rebound at Risk as Growth Slows- Key Levels to Watch

David Song, Strategist

- Australia 2Q GDP to Highlight Slowing/Uneven Recovery

- Slower Growth to Drag on AUDUSD- Renew Bets for More Dovish RBA

Trading the News: Australia Gross Domestic Product

The slowing recovery in the Australian economy may prompt a further selloff in the AUDUSD as it raises the scope of seeing the Reserve Bank of Australia (RBA) introduce additional rate cuts over the near to medium-term.

What’s Expected:

Time of release: 09/04/2013 1:30 GMT, 21:30 EDT

Primary Pair Impact: AUDUSD

Expected: 0.5%

Previous: 0.6%

DailyFX Forecast:0.2% to 0.5%

Why Is This Event Important:

RBA Governor Glenn Stevens may come under increased pressure to further embark on the easing cycle amid the ongoing slack in the region, and the central bank head may continue to favor a lower exchange to help with the rebalancing of the $1T economy.

Expectations: Bearish Argument/Scenario




Retail Sales (MoM) (JUL)



Net Exports of GDP (2Q)



Employment Change (JUL)



The GDP report may highlight a more protracted recovery amid the slowdown in global trade along with the ongoing weakness in real economy, and the bearish sentiment surrounding the higher-yielding currency may gather pace should the data renew bets for additional monetary support.

Risk: Bullish Argument/Scenario




Building Approvals (MoM) (JUL)



Private Sector Credit (MoM) (JUL)



Home Loans (MoM) (JUN)



Nevertheless, record-low borrowing costs may limit the risk of seeing a pronounced slowdown in the growth rate as it encourages private-sector lending, and a positive development may prompt a more meaningful correction in the exchange rate as raises the RBA’s scope to retain its current policy.

How To Trade This Event Risk(Video)

Bearish AUD Trade: 2Q growth rate slows to 0.5% or lower

  • Need to see red, five-minute candle following the report for a potential short trade on AUDUSD
  • If market reaction favors a short trade, sell AUDUSD with two separate position
  • Set stop at the near-by swing high/reasonable distance from entry; look for at least 1:1 risk-to-reward
  • Move stop to breakeven on remaining position once initial target is met, set reasonable limit

Bullish AUD Trade: GDP exceeds market forecast

  • Need green, five-minute candle to consider a long AUDUSD trade
  • Carry out the same setup as the bearish AUD trade, just in the opposite direction

Potential Price Targets For The Release

Forex_AUDUSD_Rebound_at_Risk_as_Growth_Slows-_Key_Levels_to_Watch_body_ScreenShot060.png, AUDUSD Rebound at Risk as Growth Slows- Key Levels to Watch
  • Bearish trend remains intact; 50-Day SMA (0.9102) lines up with trendline resistance
  • RSI approaching resistance (53); break higher may bring range-bound prices
  • Soft resistance: 0.9210-20 (61.8% Fib retracement)
  • Soft support: 0.8990 pivot; 0.8700 (78.6% retracement) to 0.8710 (38.2% expansion)

Impact that Australia GDP has had on AUD during the last quarter


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)

1Q 2013

06/05/2013 1:30 GMT





1Q 2013 Australia GDP

Forex_AUDUSD_Rebound_at_Risk_as_Growth_Slows-_Key_Levels_to_Watch_body_ScreenShot059.png, AUDUSD Rebound at Risk as Growth Slows- Key Levels to Watch

Australia grew an annualized 2.5% in the second-quarter to mark the slowest pace of growth since 2011, and the uneven recovery may prompt the Reserve Bank of Australia to push the benchmark interest rate to a fresh record-low in order to stem the downside risks for the $1T economy. Although the initial decline in the AUDUSD was short-lived, the Australian dollar struggled to hold its ground throughout the day as the pair closed at 0.9539.

--- Written by David Song, Currency Analyst

To contact David, e-mail

Follow me on Twitter at @DavidJSong

To be added to David's e-mail distribution list, please follow this link

Trade Key Event Risks with DailyFX on Analyst on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader

New to FX? Fill Out This Quick Form for a Free Tutorial

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