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
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
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
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • #Crudeoil prices could reverse lower as the #OPEC Monthly Oil Market Report (MOMR) forecasts fading global demand and oversupply concerns. Get your #commodities update from @DanielGMoss here: https://t.co/G02ajeLPqZ https://t.co/THuauT4XQ9
  • The outlook for the $EURUSD pair has worsened after its failure to move back to the high just above 1.20 touched on September 1 despite the #ECB’s decision earlier this month not to talk down the Euro. Get your #currencies update from @MartinSEssex here: https://t.co/kDCHxHgGlU https://t.co/Li4jHqaNdC
  • #USDollar Outlook Bearish on Mnuchin & Powell Testimonies, Key US Data ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2020/09/20/US-Dollar-Outlook-Bearish-on-Mnuchin-Powell-Testimonies-Key-US-Data.html
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/UTWxbnNz7M https://t.co/fuWSUDE1pT
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eRTdlhAOFN
  • The Japanese #Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy. Get your #currencies update from @DavidJSong here: https://t.co/HFjc6KGzRw
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/n2wESiqnpJ
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/laHmaZXpJe
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
AUD/USD Threatens Bullish Momentum- NZD/USD Carves Top Ahead of RBNZ

AUD/USD Threatens Bullish Momentum- NZD/USD Carves Top Ahead of RBNZ

2015-03-06 17:15:00
David Song, Strategist
Share:

Talking Points:

- AUD/USD Outperforms to Retain Range- China Event Risk in Focus.

- NZD/USD Retains Bearish RSI Momentum Ahead of RBNZ Meeting.

- USDOLLAR Rallies to Fresh High on Strong Non-Farm Payrolls (NFP).

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

AUD/USD

AUD/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • AUD/USD may threaten the broader range from back in February on a close above 0.7720 (161.8% expansion) to 0.7740 (78.6% expansion) as the RSI threatens the bullish trend.
  • Even though Australia Employment is expected to show a 15.0K rebound in February, key data prices coming out of China – Australia’s largest trading partner – may heavily impact the near-term outlook for AUD/USD as the Reserve Bank of Australia (RBA) retains a dovish tone for monetary policy.
  • Despite the ongoing range in AUD/USD, DailyFX Speculative Sentiment Index (SSI) shows retail crowd has flipped net-short, with the ratio currently standing at -1.04.

NZD/USD

NZD/USD Daily Chart
  • NZD/USD appears to have a carved a near-term top as it continues to come off of former support zone around 0.7590 (38.2% expansion) to 0.7620 (50% expansion); downside targets remain favored as the RSI retains the bearish momentum.
  • Despite the verbal intervention, the Reserve Bank of New Zealand’s (RBNZ) forward-guidance for monetary policy may heavily influence the near-term outlook for NZD/USD.
  • Close below 0.7330 (61.8% expansion) to 0.7340 (23.6% retracement) may open the door for fresh lows.

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

Read More:

The Weekly Volume Report: Euro Decline Resume But Volume Still Missing

NFP Setups in Focus- USD Breakout Plays

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11989.33

11993.75

11889.18

0.74

196.94%

AUD/USD Threatens Bullish Momentum- NZD/USD Carves Top Ahead of RBNZUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar extends advance following the better-than-expected Non-Farm Payrolls (NFP) report; looks poised for a further advance as the RSI retains the bullish momentum and pushes back into overbought territory.
  • Despite the ongoing improvement in the labor market, may see the Federal Reserve share a similar fate to its U.K. counterpart as wage growth continues to lag behind.
  • Nevertheless, outlook remains bullish and need a break/close above 11,997 (100% expansion) to 12,001 (78.6% expansion) should expose 12,073 (100% expansion)

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Non-Farm Payrolls (FEB)

13:30

235K

295K

Unemployment Rate (FEB)

13:30

5.6%

5.5%

Labor Force Participation Rate (FEB)

13:30

62.9%

62.8%

Change in Private Payrolls (FEB)

13:30

225K

288K

Change in Manufacturing Payrolls (FEB)

13:30

10K

8K

Two-Month Payroll Net Revision (FEB)

13:30

--

-18K

Change in Household Employment (FEB)

13:30

250

96

Underemployment Rate (FEB)

13:30

--

11.0%

Average Hourly Earnings (MoM) (FEB)

13:30

0.2%

0.1%

Average Hourly Earnings (YoY) (FEB)

13:30

2.2%

2.0%

Trade Balance (JAN)

13:30

-$41.1B

-$41.8B

Consumer Credit (JAN)

19:00

$14.5000B

--

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