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
Mixed
Wall Street
Bearish
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
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.36% Silver: 0.29% Gold: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ELIb53GJTu
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.22% France 40: 0.15% US 500: 0.04% Wall Street: -0.03% Germany 30: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/FPJs0yOWtC
  • LIVE NOW: Join Technical Strategist @MBForex for his Mid-Week Market Update to review the setups we're tracking into today's #Fed Decision! - https://t.co/NG58yc4oIJ
  • The Federal Reserve meeting will be the highlight of the day and week, marking the last chance for some FX volatility before the summer lull kicks in. Get your market update from @JMcQueenFX here:https://t.co/f7a2r3Xupz https://t.co/dPqOnqGa6v
  • From my Twitter poll, it seems more than half of those that responded believe there will be no change in either Fed tone/outlook today. Taper announcement voted by 27% and only 12% expect a dot plot shift forward. #FOMC https://t.co/GIHlHkH5jr
  • Mid-Week Market Update webinar starting in 15mins on DailyFX! Reviewing the technical setups we're tracking into #FOMC - https://t.co/8SFBJxwo30
  • Average of core inflation at 2.3%. $USDCAD move lacking conviction given FOMC later today https://t.co/UG9xaa8RUE
  • RT @RiskReversal: This week on @macrosetup from @nadex👉 @GuyAdami and I weigh in on the "most important" Fed meeting of our post-pandemic l…
  • 🇨🇦 Core Inflation Rate YoY (MAY) Actual: 2.8% Expected: 2.4% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2021-06-16
  • 🇺🇸 Building Permits MoM (MAY) Actual: -3% Previous: -1.3% https://www.dailyfx.com/economic-calendar#2021-06-16
AUD/USD to Threaten 0.9200 Support on Dovish RBA- USD/CAD Breaks Out

AUD/USD to Threaten 0.9200 Support on Dovish RBA- USD/CAD Breaks Out

David Song, Strategist

Talking Points:

- USDOLLAR Remains Capped by Former Support Zone as ISM Disappoints

- AUD/USD Eyes 0.9200 Support Ahead of RBA Interest Rate Decision

- USD/CAD Breakout in Focus Ahead of BoC Meeting, Canada Employment

The lack of momentum to push back above former support may continue to produce a series of lower-highs & lower-lows in the Dow Jones-FXCM U.S. Dollar Index (Ticker: USDollar) as the Federal Reserve is widely expected to retain its current approach for monetary policy at the June 18 meeting.

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10518.13

10525.74

10494.7

0.24

105.12%

Despite expectations of seeing another 215K rise in U.S. Non-Farm Payrolls (NFP), the slowdown in the ISM Manufacturing survey’s employment component (51.9) limits the scope for a stronger-than-expected print, and the dollar may struggle to maintain the advance carried over from the previous month should the fundamental developments coming out of the world’s largest economy continue to drag on interest rate expectations.

As a result, we may see the former support zone (10,508-524) turn into resistance, and will favor ‘selling bounces’ in the greenback as long as the bearish break in the Relative Strength Index (RSI) continues to take shape in June.

AUD/USD to Threaten 0.9200 Support on Dovish RBA- USD/CAD Breaks Out

Join DailyFX on Demandto Cover Current U.S. dollar Trade Setups

Read More:

Price & Time: Keep A Close Eye on USD/JPY This Week

June Forex Seasonality Sees US Dollar Outperformance versus Aussie, Euro

USDOLLAR Daily

AUD/USD to Threaten 0.9200 Support on Dovish RBA- USD/CAD Breaks Out

Chart - Created Using FXCM Marketscope 2.0

  • Carving Lower High at Former Support?
  • Interim Resistance: 10,602 (38.2 retracement) to 10,615 (78.6 expansion)
  • Interim Support: 10,354 to 10,375 (50.0 retracement)

Release

GMT

Expected

Actual

Markit Purchasing Manager Index Manufacturing (MAY F)

13:45

--

56.4

ISM Manufacturing (MAY)

14:00

55.5

53.2

ISM Prices Paid (MAY)

14:00

56.9

60.0

Construction Spending (MoM) (APR)

14:00

0.6%

0.2%

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

To be added to David's e-mail distribution list, please follow this link.

Trade Alongsidethe DailyFX Team on DailyFX on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader.

New to FX? Watch this Video

Join us to discuss the outlook for the major currencies on the DailyFXForums

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

DISCLOSURES