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
Subscribe
Please try again
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
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Coinbase’s impending initial public offering could provide the necessary fuel for Bitcoin to push to fresh record highs in the coming days. Get your market update from @DanielGMoss here:https://t.co/twdu0zHY7m https://t.co/63fFMZgCQA
  • 6 out of 9 Dow Jones sectors ended higher, with 73.3% of the index’s constituents closing in the green. healthcare (+2.39%), information technology (+1.54%) and consumer discretionary (+0.75%) were among the best performers, while energy (-0.82%) lagged behind.
  • 🇳🇿 Business NZ PMI (MAR) Actual: 63.6 Previous: 53.4 https://www.dailyfx.com/economic-calendar#2021-04-15
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/ObnecL3R6u
  • Heads Up:🇳🇿 Business NZ PMI (MAR) due at 22:30 GMT (15min) Previous: 53.4 https://www.dailyfx.com/economic-calendar#2021-04-15
  • For markets, data really only matters to the extent it drives monetary policy bets Did US retail sales absolutely crush estimates? YES Guess what? Odds of a #Fed rate hike by end of 2022 worsened, now about 54% chance vs 90% early April Dovish #Fed comments doing the real work https://t.co/8phPSG9DMe
  • CDC panel tentatively set to meet late next week on Johnson & Johnson vaccine $JNJ $SPX $NDX $RUT $DJI
  • Fed's Mester: - Does not think the Fed being behind the curve is a primary risk - Second half of the year is going to be strong - Growth will be at 6% or higher overall this year
  • Following their rebound from critical trend support at the end of March, gold prices have now broken through multi-week consolidation resistance. Get your $XUUSD market update from @CVecchioFX here:https://t.co/uZtcPEukJ1 https://t.co/qu0PLXwjwJ
  • Silver hit a fresh three-week high above the 25.80 level. The metal had hit its lowest point since December at the end of March, around the 24.00 level. Get your $XAG market update here:https://t.co/hN2TNhCsio https://t.co/z8EqgtQHyX
AUD/USD to Stage Larger Recovery on Wait-and-See RBA

AUD/USD to Stage Larger Recovery on Wait-and-See RBA

David Song, Strategist

Talking Points:

- AUD/USD to Stage Larger Recovery on Wait-and-See RBA; Retail Sentiment Approaches 2016 Extreme.

- USDOLLAR Weakness to Persist on Slowing U.S. Consumer Price Index (CPI).

Avoid the pitfalls of trading by steering clear of classic mistakes. Review these principles in the "Traits of Successful Traders" series.

AUD/USD

AUD/USD Daily Chart

Chart - Created by David Song

  • Despite the recent series of lower highs & lows in AUD/USD, the pair may work its way back towards the 2016 high (0.7834) as price & the Relative Strength Index (RSI) preserve the bullish trends carried over from May; will retain a constructive outlook over the near-term as long as aussie-dollar continues to hold above the Fibonacci overlap around 0.7580 (50% expansion) to 0.7600 (23.6% retracement).
  • With Reserve Bank of Australia (RBA) Governor Glenn Stevens scheduled to depart from the central bank next month, the meeting minutes may spark a bullish reaction in the Australian dollar should the statement largely endorse a wait-and-see approach for monetary policy as Philip Lowe takes the helm on September 18; may see a more meaningful market reaction to the 2Q Wage Price Index as well as the Employment report for July as the central bank provides little forward-guidance.
  • Need a closing price above 0.7740 (78.6% expansion) to open up the 2016 high (0.7834) along with the next topside objective coming in around 0.7860 (61.8% expansion).
DailyFX SSI
  • The DailyFX Speculative Sentiment Index (SSI) shows retail FX crowd remains net-short AUD/USD since August 2, with the ratio approaching the most extreme reading since March when the gauge for retail sentiment slipped to -2.17.
  • The ratio currently sits at -1.58 as 39% of traders are long, with short positions 6.0% higher from the previous week, while open interest stands 8.2% above the monthly average.

Why and how do we use the SSI in trading? View our video and download the free indicator here

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

US Dollar Index

11960.91

11974.18

11947.66

-0.05

47.53%

AUD/USD to Stage Larger Recovery on Wait-and-See RBAUSDOLLAR Daily Chart

Chart - Created by David Song

  • The mixed data prints coming out of the U.S. economy may produce additional headwinds for the USDOLLAR as the Atlanta Fed’s GDP model cut its third-quarter forecast to 3.5% from the 3.7% reading on August 9; may see the fresh comments from Atlanta Fed President Dennis Lockhart, St. Louis Fed President James Bullard, New York Fed President William Dudley and San Francisco Fed President John Williamsdrag on the greenback should the central bank officials endorse a wait-and-see approach for monetary policy.
  • Even though the headline reading for the U.S. Consumer Price Index (CPI) is projected to slow to an annualized 0.9% from 1.0% in June, stickiness in the core rate of inflation may keep the USDOLLAR within the current range as Fed Funds Futures continue to highlight a 12% probability for a September rate-hike.
  • With the USDOLLAR largely capped around 11,989 (50% retracement) will keep a close eye on the bottom of the recent range, with a break/close below 11,898 (50% retracement) opening up the next downside region of interest around 11,822 (23.6% retracement) to 11,843 (38.2% retracement).
DailyFX Calendar

Click Here for the DailyFX Calendar

Get our top trading opportunities of 2016 HERE

Read More:

USD/CAD Technical Analysis: Macro Now Favoring a Breakdown?

Gold Prices Wedging into Consolidation Near Resistance

USDOLLAR Short Term Technical Update

S&P 500: Notches New Record High, Short-term Techs in Focus

--- 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.

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

DISCLOSURES