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
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
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
Wall Street
Bearish
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
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • 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: https://t.co/CNtqrLeetw https://t.co/1w7E3aiWV1
  • A “PIP” – which stands for Point in Percentage - is the unit of measure used by forex traders to define the smallest change in value between two currencies. Learn how to understand pips in forex here: https://t.co/AfAhmI7kAV https://t.co/JiZPRZzwgo
  • RT @IGSquawk: Crypto update: #Bitcoin 56398.30 -7.34% #Ether 2213.91 -7.42% #BitcoinCash 925.49 -12.24% #EOS 6.8039 -15.98% #Stellar 0.5276…
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
Australian Dollar Aims Higher as Data Dents Rate Cut Outlook

Australian Dollar Aims Higher as Data Dents Rate Cut Outlook

Ilya Spivak, Head Strategist, APAC
Forex_Australian_Dollar_Aims_Higher_as_Data_Dents_Rate_Cut_Outlook_body_Picture_1.png, Australian Dollar Aims Higher as Data Dents Rate Cut Outlook

Australian Dollar Aims Higher as Data Dents Rate Cut Outlook

Fundamental Forecast for Australian Dollar: Bullish

Australian Dollar volatility was relatively subdued last week compared to the other major currencies but a pickup in activity seems likely. April’s RBA rate decision reconfirmed a wait-and-see attitude from policymakers, making for a data-dependent environment as traders attempt to handicap the probability of another reduction in borrowing costs. Indeed, a Credit Suisse gauge tracking investors’ priced-in policy expectations over the coming year has been narrowly toeing the line between calling for a 25bps cut and no change in the benchmark lending rate since early March. Key data points from Australia and China will further stoke debate and offer an impetus for volatility in the week ahead.

Takes this quiz to assess your trading IQ!

First, China’s Consumer Price Index reading is expected to show the year-on-year inflation rate slowed to 2.5 percent in March after spiking to a 10-month high at 3.2 percent in the prior month. That puts the pace of price growth back in line in line with the trend average. The overall trajectory has pointed to softening price growth since mid-2011, and a return to form that pains February’s print as a one-off aberration is likely to cap investors’ bets on Chinese monetary tightening. That bodes well for Australia, for whom the Asian giant is the largest export partner and key driver of demand for the critical mining sector, chipping away at RBA easing expectations and boosting the Aussie Dollar.

Next, Australia’s March Employment data is forecast to reveal a 7.5k decline in hiring while the jobless rate remains in place at 5.4 percent. Although this seems relatively tame after the economy added a whopping 71.5k jobs in the prior month, that outcome faced accusations of being over-inflated by a statistical anomaly. Estimates for an adjusted figure stripping out the alleged discrepancy put the February figure in the 10-12k range. If that is indeed accurate, a 7.5k drawdown begins to appear substantially more ominous. With that said however, data compiled by Citigroup suggests Australian economic news-flow has tended to outperform by an increasingly healthy margin relative to expectations since early February. That suggests analysts have tended to underestimate the economy’s position in the business cycle, leaving the door open for another upside surprise to drive the Aussie upward.

Correlation studies suggest the Australian Dollar’s sensitivity to underlying sentiment trends has considerably weakened recently as investors focus on the outlook for interest rates. Still, as one of the highest-yielding currencies in the G10 FX space, the currency may be swiftly engulfed in larger risk appetite swings. With that in mind, it seems prudent to be mindful of the evolution of key macro-level themes dominating financial markets. In the week ahead, the spotlight here falls onto US economic data as traders reeling from Friday’s disappointing NFP print look for added confirmation of an emerging downturn in the world’s largest economy and its implications for Federal Reserve policy. Retail Sales and UofM Consumer Confidence figures as well as minutes from last month’s FOMC meeting headline the calendar. The onset of the fourth-quarter corporate earnings season may likewise become a factor, with the spotlight on results from cycle-sensitive Alcoa Inc as well as Wells Fargo and JPMorgan.

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

DISCLOSURES