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
Oil - US Crude
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
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here:
  • The British Pound, Australian Dollar and US Dollar may all experienced heightened periods of volatility as geopolitical risks in North America, Asia and Europe rattle global financial markets. Get your $GBPUSD market update from @ZabelinDimitri here:
  • The New Zealand Dollar may continue to outperform the haven-associated US Dollar as price breaks above key long-term resistance. Get your $NZDUSD market update from @DanielGMoss here:
  • #Gold prices declined following bearish technical cues, but a key zone of support was reinforced over the past 48 hours. #XAUUSD volatility risk is elevated ahead of the #USElection -
  • What is the US Dollar outlook based on retail positioning ahead of the November 3rd presidential election? EUR/USD may fall as AUD/USD rises. Which way could USD/CAD capitulate? Find out from @ddubrovskyFX here:
  • US #COVID19 cases hit a record for a second consecutive day -BBG
  • The Indian Rupee may weaken following a breakout higher in USD/INR. Despite rising global stock market volatility, the Nifty 50 has been holding its ground. Could it capitulate lower? Find out from @ddubrovskyFX here:
  • The US Dollar gained, pushing USD/SGD to break higher. However, USD/IDR may be looking at losses ahead. USD/MYR struggled to breach the March trendline. USD/PHP could rise.Get your market update from @ddubrovskyFX here:
  • The #DowJones and #SP500 have as of today averaged: -2.16% & 1.43% 3-months and 1-year before #Election2020 respectively What could this mean for the incumbent president/Trump next week? 👇
Australian Dollar May Find Itself Short Of Further Impetus

Australian Dollar May Find Itself Short Of Further Impetus

2017-06-17 02:57:00
David Cottle, Analyst
Australian Dollar May Find Itself Short Of Further Impetus

Fundamental Australian Dollar Forecast: Neutral

  • AUD/USD bulls had a good week last week
  • Stronger Australian job creation and weaker US inflation took the pair up to two-month highs
  • However, a repeat performance looks like a big ask

Keep your Australian Dollar trade strategy sharp with the DailyFX Trading Guide

The Australian Dollar reaped the benefits of foreign and domestic data surprises which went its way last week.

The tone was set in the US by Consumer Price Index numbers which missed expectations. CPI fell 0.1% in May, for a second drop in three months. The Federal Reserve pressed on with plans to raise interest rates and expects to do so again this year. But those weak inflation prints have certainly sowed doubts about more aggressive monetary tightening in market minds. Note that only one more Fed hike is needed to completely erode the Australian Dollar’s long-held yield advantage over its US big brother. The prospect that said hike may not come, and even if it does that there will be few more, is clearly Aussie supportive.

Then came that domestic data. The Australian labor market had a blockbuster May. 42,000 net new jobs were created, and market forecasts of just 10,000 were duly laughed out of court by Aussie buyers. Even more encouragingly, full-time job creation was back on track too, and then some. Previous data had been worryingly light in that respect.

All of the above was enough to see AUD/USD push up to two month highs, where it broadly remains. So what of this week?

Well, the coming five sessions don’t offer any obvious scheduled data points on which to hang much of a fundamental forecast for either the ‘AUD’ or ‘USD’ side of things. The Aussie has been vulnerable in the recent past to disappointments out of China’s economy, but there doesn’t seem huge opportunity for action on that front either.

A lack of likely market movers could leave the currency struggling for reasons to build on its gains. After all, while lower Australian rates are now all but priced out for the foreseeable future, no rises are expected either, according to rate-futures markets. By the same token there are no obvious traps lurking for a clearly more bullish Aussie Dollar either.

Tuesday might offer modest action. Quarterly house price data will be released then, as will the Reserve Bank of Australia’s last set of policy meeting minutes. However, both may prove a little historic for the AUD/USD market.

There’s little else on the schedule, and that means it just must be a neutral call. So it is.

Australian Dollar May Find Itself Short Of Further Impetus

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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