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. See our updated Privacy Policy here.

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
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Global stock markets may see turbulent volatility if darkening clouds over Washington’s relations with Beijing turn into a geopolitical storm. Which assets will be the lifeboat? Find out here:https://t.co/RkFI6qAyik https://t.co/9Ppa4d48Ql
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/e0liqVDzw6
  • The Japanese Yen may fall against its major peers, but there is room for a near-term climb that wouldn’t necessarily overturn a bearish technical bias. USD/JPY is eyeing support. Get your market update from @ddubrovskyFX here:https://t.co/AEnQCXnwAL https://t.co/tuq7DDF3jE
  • Protests in Colombia may continue to pressure the Peso, but surging commodity prices and a weaker Greenback could curb USD/COP gains. Get your market update here:https://t.co/vcVH75xuKI https://t.co/kEvbsagB4a
  • Money never sleeps.... https://t.co/mAkpWd2M3O
  • The US exchanges are closed and now we have to turn over to the cryptocurrency charts to monitor developments in risk trends over the weekend. Unfortunately, it can be difficult to separate systemic sentiment influences vs isolated issues (like a celebrity's tweet about a coin)
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.93% 🇦🇺AUD: 0.72% 🇪🇺EUR: 0.55% 🇨🇦CAD: 0.50% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/rzD7Gp4VIC
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.17% Gold: 0.92% Oil - US Crude: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/TU8HEn8Gbk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.44%, while traders in France 40 are at opposite extremes with 73.01%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/M5ItmLXuiw
  • The Australian Dollar plummeted more than 1.4% against the US Dollar since the start of the week with AUD/USD reversing off technical resistance at the yearly high-close. Get your $AUD market update from @MBForex here:https://t.co/72ORZ3wZwx https://t.co/zG3UzI6bRc
Australian Dollar Looks Trapped By Competing Influences

Australian Dollar Looks Trapped By Competing Influences

David Cottle, Analyst
Australian Dollar Looks Trapped By Competing Influences

Fundamental Australian Dollar Forecast: Neutral

  • The Australian Dollar was pressured last week when the Reserve Bank of Australia declined to turn hawkish
  • No such obvious banner event looms in the coming week
  • But there are plenty of likely market movers, from Australia, China and the US

Find out where your currency-of-the-moment stands in the trading community’s affections at the DailyFX sentiment page

The Australian Dollar took a knock last week when its central bank just refused to play.

Investors had hoped that the Reserve Bank of Australia might have joined other developed-market monetary authorities in suggesting that higher interest rates were coming. In the event it didn’t. Instead it left the Official Cash Rate at its 1.50% record low and gave no hint that any changes were in the wind.

In truth it was always rather doubtful that enough had changed for the Australian economy to justify a policy shift, whatever central bankers in Canada, the UK and the Eurozone may feel. Moreover, although the next move in Australian rates probably will be to the upside, rate-futures markets still don’t price this in until the second half of next year.

So, what of this week? Well, the Aussie will face some interesting economic data out of its homeland, notably surveys of both business and consumer confidence. If they can trounce expectations, as Australia’s trade balance did last week then AUD/USD should at least find some support and may well push higher.

However, economic numbers are also due out of China and here risks seem a little asymmetric- the Aussie may not rise much on strong data, but it has shown a recent propensity to slide on disappointments. There’s reason for this. The RBA has often worried aloud that Chinese demand for Australian raw materials may moderate. And the Australian government said just last week that the price of iron ore will be back below US$50/tonne next year as China’s steelmakers takes less of this key Australian export. Signs that any of these worries are justified tend to spook the currency.

We will also here fulsomely from Federal Reserve Chair Janet Yellen. If she sticks to her upbeat tone on the US economy then there could be pressure on AUD/USD.

All up it seems likely that the Aussie could face moderate, contradictory influences in the coming week, which is why the call must be a neutral one.

Australian Dollar Looks Trapped By Competing Influences

--- 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.

DISCLOSURES