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
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
Oil - US Crude
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
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
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • The US dollar is unloved, oversold and at lows last seen over 30-months ago. At the moment there seems to be very little reason to buy the greenback. Get your $USD market update from @nickcawley1 here:https://t.co/VY3SLs35cp https://t.co/w5ljByv9cf
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/CpqePQYF4E
  • 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: https://t.co/Yl9vM7kO6a https://t.co/Rg2YGZCUCr
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here: https://t.co/yOUVEEqhc5 https://t.co/ftrbRkFiJF
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/Hny2HMYo4I
  • (Weekly Fundamental) Australian Dollar Outlook: Tied to Biden Stimulus Bets, S&P 500, US Dollar, Treasuries $AUDUSD #SP500 #stimulusbill #USD https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/01/16/Australian-Dollar-Outlook-Tied-to-Biden-Stimulus-Bets-SP-500-US-Dollar-Treasuries.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/H7aus0Aljt
  • The inside bar pattern occurs regularly within financial markets. Incorporating the inside bar strategy can enhance a trader's market analysis. Find out how more here: https://t.co/E3EWOYTYNw https://t.co/7zI3p6UNVs
  • Bank of Japan to mull widening of its long-term yield band -BBG $USDJPY
  • While the rise in longer-dated Treasury yields have been impressive as of late, March highs remain a key focus for resistance The medium-term uptrend remains intact, maintained by rising support from August Fading fiscal stimulus expectations (size) may sour yields ahead https://t.co/L3vBcF0ts7
  • 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: https://t.co/rz7fqhRoMG https://t.co/vFJ8zmphMm
Australian Dollar Hoping for a Correction After Dramatic Selloff

Australian Dollar Hoping for a Correction After Dramatic Selloff

2014-01-17 23:32:00
Ilya Spivak, Head Strategist, APAC
Australian_Dollar_Hoping_for_a_Correction_After_Dramatic_Selloff_body_aussi.png, Australian Dollar Hoping for a Correction After Dramatic Selloff

Fundamental Forecast for Australian Dollar: Neutral

  • 4Q Chinese GDP, Australian CPI Data Set to Guide RBA Policy Outlook
  • Aussie May Find a Lifeline Amid a Lull in Taper-Related US News-Flow
  • Help Time Key Turning Points for the Australian Dollar with DailyFX SSI

The Australian Dollar floundered last week, producing its worst five-day performance in since mid-June of last year. Home-grown and external factors aligned to undermine the currency. On the domestic front, December’s abysmal jobs report weighed heavily on RBA policy expectations, pushing a Credit Suisse index tracking investors priced-in 12-month rates outlook to the weakest since early October. Meanwhile, upbeat comments from Federal Reserve officials and a rosy Beige Book survey scattered doubts about continued “tapering” of QE asset purchases that emerged following December’s soft nonfarm payrolls print. This pushed US yields higher, punishing the yield-sensitive Australian unit.

Next week, fourth-quarter Chinese GDP and Australian CPI figures will continue to inform speculation about the RBA’s next move. The former is due to show output growth in the world’s second-largest economy and Australia’s top export market is expected to slow to year-on-year rate of 7.6 percent, down from 7.8 percent recorded in the prior quarter. That would put the average 2013 growth rate slightly higher than economists’ median forecasts (as tracked by a survey conducted by Bloomberg), so absent a significant downside surprise the result may prove to have a lasting negative impact on the Aussie.

The latter is expected to put the headline year-on-year inflation rate at 2.4 percent, reversing a drop to 2.2 percent in the third quarter to match the result recorded in the three months to June 2013. Leading indicators from the Australian Industry Group (AiG) suggest that while pricing trends in the manufacturing and services sectors remained sluggish (but broadly in line with 12-month trends), the construction industry saw a dramatic increase. Indeed, output prices expanded for the first time since 2010 in December. That seems to reinforce the likelihood of a pickup in overall inflation, which may work against RBA rate cut bets and offer support to the beleaguered Australian currency.

Turning to the US, a shortened holiday week offers little in terms of high-profile economic data. That leaves relatively little fuel to feed last week’s strongly pro-taper cues. That may open the door for a bit of a correction across the spectrum of assets sensitive to the FOMC policy outlook. Such a scenario in the context of last week’s brutal Aussie selloff may leave the door open for a correction, particularly considering the steady rebuilding of speculative net-short positioning toward record levels over recent weeks. - IS

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

DISCLOSURES