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
Bullish
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
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
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
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
  • Coming up in half an hour. Do join me if you're free... https://t.co/tWtUtwwcwl
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.35% US 500: 0.34% FTSE 100: -0.51% Germany 30: -1.56% France 40: -1.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/xXvjSjlt9p
  • Last week, USD/CAD reversed from an over two-week low and pointed higher. Will today’s US inflation numbers (13:30UK) boost the pair’s rally? #USD/CAD, #USinflation, #USD https://t.co/c0BVB3drY6
  • Join @MartinSEssex 's #webinar at 6:30 AM ET/10:30 AM GMT to learn more about trading #sentiment Register here: https://t.co/XUUPRefAXX https://t.co/JDikSRdPyY
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/H8mFeHAyDS
  • 💶 Industrial Production YoY (MAY) Actual: -20.9% Expected: -20% Previous: -28.7% https://www.dailyfx.com/economic-calendar#2020-07-14
  • 💶 ZEW Economic Sentiment Index (JUL) Actual: 59.6 Previous: 58.6 https://www.dailyfx.com/economic-calendar#2020-07-14
  • 🇩🇪 ZEW Current Conditions (JUL) Actual: -80.9 Expected: -65 Previous: -83.1 https://www.dailyfx.com/economic-calendar#2020-07-14
  • 🇩🇪 ZEW Economic Sentiment Index (JUL) Actual: 59.3 Expected: 60 Previous: 63.4 https://www.dailyfx.com/economic-calendar#2020-07-14
  • 💶 Industrial Production YoY (MAY) Actual: -20.9% Expected: -20% Previous: -28% https://www.dailyfx.com/economic-calendar#2020-07-14
AUD/USD Holds August Opening Range Ahead of RBA, 2Q GDP

AUD/USD Holds August Opening Range Ahead of RBA, 2Q GDP

2014-08-29 15:00:00
David Song, Strategist
Share:

Talking Points:

- AUD/USD Holds August Range Ahead of RBA Interest Rate Decision.

- Gold Marks Failed Closes Above Former Support; Looking for Break & Close Below $1,270.

- USDOLLAR Holds Above Trendline Resistance Even as Bullish RSI Momentum Wanes.

For more updates, sign up for David's e-mail distribution list.

AUD/USD

AUD/USD Holds August Opening Range Ahead of RBA, 2Q GDP
  • Preserves the opening monthly range ahead of the Reserve Bank of Australia (RBA) interest rate decision & 2Q Gross Domestic Product (GDP) report.
  • Biggest risk surrounding the RBA meeting will be stronger verbal intervention from Governor Glenn Stevens amid the resilience in the Australian dollar.
  • Although the DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long on AUD/USD, the ratio has narrowed as it currently sits at +1.42.

XAU/USD

AUD/USD Holds August Opening Range Ahead of RBA, 2Q GDP
  • Despite the spike into $1,296, the lack of momentum to close above former support around $1,291(38.2% retracement) to $1,292 (38.2% expansion) may highlight a near-term top as the RSI preserves the bearish momentum .
  • Still need a break and close below $1,270 (50.0% expansion) to favor a resumption of the bearish trend carried over from July.
  • Next downside objective comes in around $1,260, the 61.8% retracement of the December advance.

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Negative Sentiment in EUR/USD Overstretched?

USD/JPY Triangle, EUR/JPY Inverse H&S Point to Weaker Yen Soon

USDOLLAR

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

10633.97

10643.8

10626.95

0.04

59.97%

AUD/USD Holds August Opening Range Ahead of RBA, 2Q GDPAUD/USD Holds August Opening Range Ahead of RBA, 2Q GDP

Chart - Created Using FXCM Marketscope 2.0

USDOLLAR(Ticker: USDollar):

  • Looks as though the Dow Jones-FXCM U.S. Dollar Index will continue to close above trendline resistance despite the bearish break on the RSI amid stick inflation.
  • Non-Farm Payrolls (NFP) highlights the biggest U.S. event risk as employment is expected to increase another 220K in August while Average Hourly Earnings is expected to climb an annualized 2.1%.
  • Nevertheless, technical outlook continues to highlight the risk for a larger correction as RSI breaks bullish trend & falls back from overbought territory; former resistance around 10,555 (50.0% retracement) to 10,561 (100% expansion) remains in focus.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Personal Income (JUL)

12:30

0.3%

0.2%

Personal Spending (JUL)

12:30

0.2%

-0.1%

Personal Consumption Expenditure Deflator (MoM) (JUL)

12:30

0.1%

0.1%

Personal Consumption Expenditure Deflator (YoY) (JUL)

12:30

1.6%

1.6%

Personal Consumption Expenditure Core (MoM) (JUL)

12:30

0.1%

0.1%

Personal Consumption Expenditure Core (YoY) (JUL)

12:30

1.5%

1.5%

NAPM-Milwaukee (AUG)

13:00

60.00

59.63

Chicago Purchasing Manager (AUG)

13:45

56.5

64.3

U. of Michigan Confidence (AUG F)

13:55

80.2

82.5

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

News & Analysis at your fingertips.