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
Oil - US Crude
Mixed
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
Mixed
GBP/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
USD/JPY
Bullish
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
More View more
Real Time News
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/UzzC1bGzRJ
  • 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/zEEUHZBx7g https://t.co/46bdHdOmOV
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/6FokpDbL65
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/TwrOBFgIwj
  • Gold prices were crushed this week as yields continued to climb. But with a big spot of support coming in, can buyers bring a bounce ahead of NFP? Get your market update from @JStanleyFX here: https://t.co/E1TTXVJGUm https://t.co/pD4TeAY3ZP
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here: https://t.co/BgZLFljIhZ https://t.co/PiLYJDVvtY
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/453MLny2lu
  • The haven-linked US Dollar may be in a position to benefit in the short-run as economic recovery bets support longer-dated Treasury yields, making them more competitive with stocks. Get your market update from @ddubrovskyFX here: https://t.co/BickxlcuZi https://t.co/OdARp4Z1mh
  • The Dow Jones and Nasdaq 100 look to be on diverging technical paths as volatility spikes. Meanwhile, the S&P 500 teeters on support as it splits the difference between its sister indices. Get your market update from @PeterHanksFX here: https://t.co/0gULgIN2kw https://t.co/dzuxyjkXmx
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/yTYG7ote3R
AUD Range To Remain On Status-Quo RBA Minutes And Lift In Chinese Data

AUD Range To Remain On Status-Quo RBA Minutes And Lift In Chinese Data

David de Ferranti, Currency Analyst
AUD Range To Remain On Status-Quo RBA Minutes And Lift In Chinese Data

Fundamental Forecast for Australian Dollar: Neutral

  • AUD/USD Rebounds As Local Data Recovers Amidst Return To Yield
  • RBA Minutes and Chinese PMI Figures To Offer Regional Event Risk
  • Path of Least Resistance Remains For The Pair To Stay Range-Bound

The Australian Dollar managed to reclaim lost ground over the week to finish marginally higher. A lift in local business and consumer confidence figures offered a positive signal for the domestic economy and kick started the Aussie’s recovery. Further gains were afforded by a broad return to high-yielding instruments as traders looked past disappointing Chinese economic data and Ukrainian tensions eased.

Over the coming week, the RBA’s August Meeting Minutes and the HSBC China Flash Manufacturing PMI data are the most noteworthy pieces of regional event risk for the Aussie. The Reserve Bank has held steadfast in its preference for a ‘period of stability’ for rates and the Minutes are unlikely to reveal any major revelations. In the absence of a more dovish tone from the central bank the Aussie could remain elevated.

Meanwhile, another upside surprise to the Chinese manufacturing data could offer the Aussie a source of support. A string of recent improvements in the leading indicator have helped alleviate fears of a further deceleration in economic growth within the Asian giant. A rebound in Chinese economic data bodes well for the Australian economy via the two country’s close trading ties.

Geopolitical tensions will likely remain in the background over the coming week. Although the embers of the latest flare-up are still glowing, the Australian Dollar may continue to demonstrate resilience in the absence of a material escalation of regional conflicts.

The scarcity ofsentiment-shifting regional catalysts over the coming week suggests the Australian Dollar’s path of least resistance may be for it to remain range-bound between 92 and 95 US cents. Refer to the US Dollar outlook for insights into how the USD side of the equation may influence the pair.

Written by David de Ferranti, Currency Analyst, DailyFX

To receive David’sanalysis directly via email, please sign up here

Contact and follow David on Twitter: @DaviddeFe

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

DISCLOSURES