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
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
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
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Learn about the importance of the ISM manufacturing index here:
  • Take a closer look visually at the most influential global importers and exporters here:
  • Trading bias allows traders to make informative decisions when dealing in the market. This relates to both novice and experienced traders alike. Start learning how you may be able to make more informed decisions here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • 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:
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here:
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here:
AUD/USD to Pare Losses on Strong Australia Wage Growth

AUD/USD to Pare Losses on Strong Australia Wage Growth

David Song, Shuyang Ren,

- Australia Wage Cost Index to Increase for First Time Since 1Q 2014.

- Annualized Reading to Hold Steady at 2.3%- Lowest Since Series Began in 1998.

For more updates, sign up for David's e-mail distribution list.

Trading the News: Australia Wage Cost Index

A pickup in Australia’s Wage Cost Index may keep the Reserve Bank of Australia (RBA) on the sidelines and prompt a larger rebound in AUD/USD as it highlights an improved outlook for growth and inflation.

What’s Expected:

AUD/USD to Pare Losses on Strong Australia Wage Growth

Click Here for the DailyFX Calendar

Why Is This Event Important:

Signs of stronger wage growth may encourage the RBA to adopt a more hawkish outlook for monetary policy, and Governor Glenn Stevens may look to conclude the central bank’s easing cycle in 2015 should the fundamental developments coming out of the $1T economy boost expectations for a stronger recovery.

Expectations: Bullish Argument/Scenario




Employment Change (JUL)



Retail Sales (MoM) (JUN)



Gross Domestic Product s.a. (QoQ) (1Q)



The pickup in private-sector consumption along with the improvement in the labor market may encourage Australian firms to boost wage growth, and a strong print may heighten the appeal of the aussie as market participants scale back backs for lower borrowing-costs.

Risk: Bearish Argument/Scenario




NAB Business Confidence (JUL)

Building Approvals (MoM) (JUN)



AiG Performance of Construction Index (JUN)



However, the ongoing slack in the $1T economy may continue to drag on household earnings, and a dismal development may put increased pressure on the RBA to further reduce the cash rate in an effort to stem the downside risks surrounding the region.

Join DailyFX on Demand for Real-Time SSI Updates!

How To Trade This Event Risk(Video)

Bullish AUD Trade: 2Q Wage Cost Index Climbs 0.6% or Greater

  • Need green, five-minute candle following the report for a potential long AUD/USD trade.
  • If market reaction favors a long aussie trade, buy AUD/USD with two separate position.
  • Set stop at the near-by swing low/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.

Bearish AUD Trade: Australia Wage Growth Falls Short of Market Forecast

  • Need red, five-minute candle to consider a short AUD/USD position.
  • Carry out the same setup as the bullish aussie trade, just in the opposite direction.

Read More:

AUD/USD Rebound Fizzles as China Widens Yuan Trading Band

Webinar: Battle Lines Drawn- USD Scalp Setups in Focus this Week

Potential Price Targets For The Release


AUD/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • AUD/USD stands at risk of giving back the rebound from the end of July as the Relative Strength Index (RSI) threatens the bullish momentum carried over from the previous month.
  • DailyFX Speculative Sentiment Index (SSI) shows the retail crowd remains net-long AUD/USD since May 15, but the ratio appears to be pushing back towards recent extremes as it advances to 2.99 with 75% of traders long.
  • Interim Resistance: 0.7570 (50% expansion) to 0.7590 (100% expansion)
  • Interim Support: 0.7233 (July low) to 0.7240 (100% expansion)

Join DailyFX on Demandfor Real-Time Updates on the DailyFX Speculative Sentiment Index!

Impact that Australia Wage Cost Index has had on AUD during the last release


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)



05/13/2015 01:30 GMT





1Q 2015Australia Wage Cost Index


Australia’s 1Q Wage Cost Index increased 0.5% after expanding 0.6% during the last three-months of 2014, while the annualized rate unexpectedly slowed to 2.3% from 2.5% to mark the lowest reading since the data series began in 1998. The slowdown in wage growth may fuel speculation for lower borrowing-costs after the Reserve Bank of Australia (RBA) cut the cash rate at the May 5 meeting, while Governor Glenn Stevens looks poised to retain the verbal intervention in the local currency in an effort to further assist with the rebalancing of the real economy. Nevertheless, the dismal readings spurred a limited reaction in the Australian dollar, with AUD/USD dipping below the 0.7990 region to close the Asian-Pacific session at 0.7976.

--- Written by David Song, Currency Analyst and Shuyang Ren

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 Alongsidethe DailyFX Team on DailyFX on Demand

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

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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