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
EUR/USD
Mixed
Oil - US Crude
Bearish
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
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
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • 🇿🇦 ABSA Manufacturing PMI (JUL) Actual: 51.2 Previous: 53.9 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Heads Up:🇿🇦 ABSA Manufacturing PMI (JUL) due at 09:00 GMT (15min) Previous: 53.9 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) Actual: 53.3 Expected: 53.6 Previous: 50.1 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Final (JUL) due at 08:30 GMT (15min) Expected: 53.6 Previous: 50.1 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 💶 Markit Manufacturing PMI Final (JUL) Actual: 51.8 Expected: 51.1 Previous: 47.4 https://www.dailyfx.com/economic-calendar#2020-08-03
  • 🇩🇪 Markit Manufacturing PMI Final (JUL) Actual: 51 Expected: 50 Previous: 45.2 https://www.dailyfx.com/economic-calendar#2020-08-03
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/Z4WgszEBoh
  • 🇮🇹 Markit/ADACI Manufacturing PMI (JUL) Actual: 51.9 Expected: 51.2 Previous: 47.5 https://www.dailyfx.com/economic-calendar#2020-08-03
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.31%, while traders in US 500 are at opposite extremes with 79.05%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/n9V97YGVVi
  • Heads Up:💶 Markit Manufacturing PMI Final (JUL) due at 08:00 GMT (15min) Expected: 51.1 Previous: 47.4 https://www.dailyfx.com/economic-calendar#2020-08-03
Australian Dollar Could Slide Again If RBA Speakers Stay Dovish

Australian Dollar Could Slide Again If RBA Speakers Stay Dovish

2019-03-15 22:00:00
David Cottle, Analyst
Share:
AUD Chart

Fundamental Australian Dollar Forecast: Bearish

  • The coming week brings plentiful opportunities to gauge thinking at the Reserve Bank of Australia
  • Recent history suggests that this may not be good news for Aussie bulls
  • Look out for signs of trade settlement between the US and China though

Find out what retail foreign exchange traders make of the Australian Dollar’s prospects right now, in real time, at the DailyFX Sentiment Page

The Australian Dollar endured a somewhat calmer time last week than it has for much of this young year.

Admittedly-feeble official Gross Domestic Product numbers were probably the domestic focus. However, they were for the final quarter of 2018 and investors have had plenty of more current data to chew over since then, not that much of it has been particularly rosy.

In any event the currency didn’t suffer the sort of knocks it had to endure last month when the Reserve Bank of Australia admitted that record low interest rates could yet fall further, and when it made big cuts to its own growth and inflation forecasts.

The coming week will bring the minutes of the last RBA monetary policy meeting and speeches from two of its members. Deputy Governor Guy Debelle and Assistant Governor Michael Bullock will both be talking.

Given the relatively ‘dovish’ monetary policy tone of RBA speakers these days, it seems unlikely that any of these events will be especially upbeat for the Australian Dollar. Any reminders that the RBA welcomes a weaker currency or leans towards a neutral view of the likely interest rate path, could see the Aussie slip further.

Some key economic data are also due, though, of which official employment numbers will be the most important. The labor market is one of Australia’s few unarguable economic success stories, with strong job creation holding up remarkably well even as other indicators wilt. If this trend endures, Aussie bulls could well jump at it, but signs of weakness even here would probably be quite damaging to their cause.

Purchasing Managers Indexes for March will also be released. The previous month’s PMI showed the service sector in the doldrums while manufacturing continued to expand. Traders can probably expect a short-lived AUD/USD move on these data but little more given their modest bearing on inflation and, therefore, RBA policy.

All up this looks like a week when the overall lack of interest-rate support could weigh on the currency again, so it’s a bearish call. Assuming no outlandish economic weakness, however, there seems little reason to suppose that falls will be heavy, even so. Look out for trade-settlement headlines between the US and China too. Hints of progress here will very likely see AUD/USD catch a bid.

Looking for a technical perspective on the Australian Dollar? Check out the Weekly AUD Technical Forecast.

AUDUSD Chart

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES

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.