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
Bullish
Gold
Bearish
GBP/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
USD/JPY
Mixed
More View more
Real Time News
  • #Gold prices are sinking, dipping back below the $2k/oz figure as inflation expectations continue to ease following Friday's US jobs data. The report showed faster job creation and higher wage growth, cooling Fed stimulus bets
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/D5upwqIsgB
  • 🇬🇧 Claimant Count Change (JUL) Actual: 94.4K Expected: 10K Previous: -28.1K https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Employment Change (MAY) Actual: -220K Expected: -288K Previous: -126K https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Average Earnings excl. Bonus (JUN) Actual: -0.2% Expected: -0.1% Previous: 0.7% https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Average Earnings incl. Bonus (JUN) Actual: -1.2% Expected: -1.1% Previous: -0.3% https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Unemployment Rate (JUN) Actual: 3.9% Expected: 4.2% Previous: 3.9% https://www.dailyfx.com/economic-calendar#2020-08-11
  • 🇬🇧 Claimant Count Change (JUL) Actual: -28.1K Expected: 10K Previous: -28.1K https://www.dailyfx.com/economic-calendar#2020-08-11
  • Heads Up:🇬🇧 Claimant Count Change (JUL) due at 06:00 GMT (15min) Expected: 10K Previous: -28.1K https://www.dailyfx.com/economic-calendar#2020-08-11
  • Heads Up:🇬🇧 Unemployment Rate (JUN) due at 06:00 GMT (15min) Expected: 4.2% Previous: 3.9% https://www.dailyfx.com/economic-calendar#2020-08-11
AUD/USD Outlook Mired as IMF Adds to RBA’s Verbal Intervention

AUD/USD Outlook Mired as IMF Adds to RBA’s Verbal Intervention

2015-07-28 16:05:00
David Song, Strategist
Share:

Talking Points:

- AUD/USD Outlook Mired by IMF- Argues Aussie ‘Looks Relatively High.’

- USD/CAD Bearish RSI Trigger to Foreshadow Larger Pullback.

- USDOLLAR Holds Tight Range Ahead of Federal Open Market Committee (FOMC) Rate Decision.

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 remains at risk for a further decline as the International Monetary Fund (IMF) warns that the aussie ‘looks relatively high when set against the fall in the terms of trade’ and argues that ‘further monetary accommodation could be warranted’ as the region continues to grapple with below-trend growth.
  • Will continue to favor the downside targets for AUD/USD as long as price & RSI retain the bearish formation from back in May, while the Reserve Bank of Australia (RBA) retains the verbal intervention on the local currency.
  • Nevertheless, the DailyFX Speculative Sentiment Index (SSI) shows retail crowd remains net-long AUD/USD since May 15, but the ratio continues to come off of extremes as it sits at +2.64, with 73% of traders long.

USD/CAD

USD/CAD Daily Chart
  • Long-term outlook for USD/CAD remains bullish as the Bank of Canada (BoC) highlights a dovish outlook for monetary policy, but the pair may face a near-term pullback should the RSI push back below 70 and come off of overbought territory.
  • With Canada’s Gross Domestic Product (GDP) report expected to show zero growth for May, signs of a slowing recovery may produce further headwinds for the loonie, while the BoC may pay increased attention to the renewed decline in energy prices as the central bank remains cautious on the economy.
  • Break below near-term support around 1.2940 (78.6% retracement) to 1.2950 (50% expansion) may spur a move back towards former resistance around 1.2800 (38.2% expansion) to 1.2833 (March high).

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

Read More:

Price & Time: USD/JPY Waiting on the FOMC For Direction

Webinar: Key USD Scalp Levels For Month End- GBP Crosses in Focus

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11991.59

12042.48

11984.07

-0.38

113.17%

AUD/USD Outlook Mired as IMF Adds to RBA’s Verbal Intervention USDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • The limited market reaction to the batch of U.S. data suggest the Dow Jones-FXCM U.S. Dollar may hold a tight range ahead of the Federal Open Market Committee (FOMC) interest rate decision; may see another unanimous vote to retain the current policy even as the central bank stays on course to normalize monetary policy in 2015.
  • Will keep a close eye on the Fed’s outlook for price growth amid the recent decline in energy prices along with the disinflation environment across the major industrialized economies, but the committee may look to buy more time amid the ongoing mixed data prints coming out of the region.
  • Will keep a close eye on the Fibonacci overlap around 11,951 (38.2% expansion) to 11,965 (23.6% retracement) for soft support, while we still need a close above 12,049 (78.6% retracement) to favor a resumption of the long-term bullish trend.

Join DailyFX on Demand for Real-Time SSI Updates!

AUD/USD Outlook Mired as IMF Adds to RBA’s Verbal Intervention

--- 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.

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.