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
EUR/USD
Bearish
Oil - US Crude
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
Wall Street
Mixed
Gold
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
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
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in EUR/GBP are at opposite extremes with 67.79%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/vQ8iSnCFKO
  • Heads Up:🇮🇹 Consumer Confidence (SEP) due at 08:00 GMT (15min) Expected: 100.8 Previous: 100.8 https://www.dailyfx.com/economic-calendar#2020-09-25
  • Heads Up:🇮🇹 Business Confidence (SEP) due at 08:00 GMT (15min) Expected: 87.5 Previous: 86.1 https://www.dailyfx.com/economic-calendar#2020-09-25
  • Heads Up:🇪🇺 European Council Special Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-25
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.55% Gold: 0.38% Silver: 0.35% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VJ7UpG5FrK
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.64% 🇦🇺AUD: 0.51% 🇬🇧GBP: 0.40% 🇯🇵JPY: 0.10% 🇨🇭CHF: 0.07% 🇪🇺EUR: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/QAhXdDRIfi
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.49% US 500: 0.42% FTSE 100: 0.34% Germany 30: 0.28% France 40: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eQC60R71rR
  • $EURUSD Rates May Extend Slide Lower on #Covid_19 #SecondWave Fears ⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/25/EURUSD-Rates-May-Extend-Slide-Lower-on-Covid-19-Second-Wave-Fears-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/eWYXYmWLPm
  • 🇬🇧 Public Sector Net Borrowing (AUG) Actual: £-35.2B Expected: £-35.1B Previous: £-15.44B https://www.dailyfx.com/economic-calendar#2020-09-25
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/oqbtFfeo4K
Australian Dollar Market Looks Nervously to Corvid-Hit Jobless Numbers

Australian Dollar Market Looks Nervously to Corvid-Hit Jobless Numbers

2020-05-08 20:00:00
David Cottle, Analyst
Share:

Fundamental Australian Dollar Forecast: Bearish

  • AUD/USD has clawed back some of its contagion-inspired losses
  • However this week brings scant local economic news
  • What there is won’t be very comforting

The Australian Dollar faces a week of very limited domestic economic data, therefore it’s all-too-likely to remain at the mercy of overall global risk appetite. These days means that coronavirus headlines will be in charge.

The numbers cupboard isn’t entirely bare. The Reserve Bank of Australia won’t be heard from after last week’s decision to leave interest rates alone for May. The Key Official Cash Rate remained at 0.25%, and seems likely to stay there for an extended period.

The coming week will see snapshots of business and consumer confidence fall due. The most important release will be April’s official employment statistics. They’re coming up on Thursday.

The March figures looked surprisingly resilient to the contagion which had seen joblessness soar elsewhere. However, the survey period missed the imposition of various economic shutdowns which are very likely to show up in the coming figures.

That said the Australian Dollar market should be braced for bad news. The treasury said on April 14 that the jobless rate is expected to nearly double in the year’s first half, to 10% from the current 5.1% level. Meanwhile the RBA’s baseline expectation is that Gross Domestic Product will fall by 10% in the first half of the year, and by 6% for 2020 as a whole.

Growth correlated assets such as the Aussie have seen strong gains since March thanks to massive monetary and fiscal action across developed and emerging economies aimed at warding off the coronavirus’ worst economic effects. The prospect of gradual emergence from lockdown has also been supportive.

However, the question now is how resilient these assets will prove to the awful figures still left in the pipeline, of which the upcoming Australian labor market report is likely to be a clear exemplar.

While overall market risk appetite is extremely hard to gauge, terribly weak data are unlikely to see the bulls out in durable force. Therefore it’s a cautiously bearish call again for the Australian Dollar.

How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by David Cottle
Improve your trading with IG Client Sentiment Data
Get My Guide

Australian Dollar 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