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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.19% Oil - US Crude: -0.42% Silver: -0.92% View the performance of all markets via
  • DAX poised to make a run at new record highs soon. CAC eying a gap-fill from the massive Feb 2020 decline. Get your #DAX market update from @PaulRobinsonFX here:
  • $AUDUSD is rebounding today, currently trading back above the 0.7800 level. The pair hit a nearly three week low into the end of February, falling as low as 0.7700. $AUD $USD
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.89% Germany 30: 0.68% France 40: 0.57% US 500: 0.08% Wall Street: 0.03% View the performance of all markets via
  • The 1965-2000 support zone is key on $EURUSD from the weekly, working a bull flag with support around prior resistance. #NFP on Friday
  • - OPEC+ panel sees stockpiles below 5yr average by August in base case - Sees stockpiles decline even if 2.4mln barrels per day are revived by June #OPEC #OOTT $OIL
  • - OPEC Sec-Gen says oil markets are improving, headwinds are abating - OPEC sees oil stocks dropping by about 400mln barrels in 2021 in latest supply and demand outlook #OPEC #OOTT $OIL
  • Another sign of speculative indulgence: not only is Google search surging worldwide for 'day trading', but 'penny stocks' interest is far outstripping anything in Google's data back to 2004:
  • OPEC President Azevedo: - Oil prices are relatively stable - There is a certain balance between supply and demand - Vaccinations set to increase demand further - New virus waves are still a threat - Pandemic and virus variants could put downward pressure on production #OOTT $OIL
  • $USDJPY is continuing to trade at multi-month highs today, currently trading around the 106.90 level for the first time since August. $USD $JPY
AUD/USD Traders Eye FOMC Meeting, US-China Trade News

AUD/USD Traders Eye FOMC Meeting, US-China Trade News

David Song, Strategist

Australian Dollar Talking Points

AUD/USD appears to be stuck in a narrow range following the upbeat US Non-Farm Payrolls (NFP) report, and developments coming out of the world’s largest economy may continue to drag on the exchange rate as the Trump administration struggles to reach a trade deal with China, Australia’s largest trading partner.

AUD/USD Traders Eye FOMC Meeting, US-China Trade News

AUD/USD struggles to extend the rebound from the November low (0.6754)ahead of the Federal Reserve’s last meeting for 2019 as the Trump administration appears to be on track to raise China tariffs on December 15.

The ongoing shift in US trade policy may become a growing concern for the Federal Open Market Committee (FOMC) as the Office of the United States Trade Representative (USTR) looks to Europe and initiatesa process to assess increasing the tariff rates and subjecting additional EU products to the tariffs.

Nevertheless, the 266K expansion in US payrolls may encourage the FOMC to take a break from its rate easing cycle as the labor market shows signs of stick job and wage growth. In turn, the committee may tame speculation for lower interest rates as Chairman Jerome Powell and Co.see “the current stance of monetary policy as likely to remain appropriate as long as incoming information about the economy remains broadly consistent with our outlook of moderate economic growth.”

Image of Federal Reserve interest rate forecast

However, it remains to be seen if Fed officials will alter the forward guidance when they update the Summary of Economic Projections (SEP). A downward revision in the interest rate dot-plot may produce a bearish reaction in the US Dollar as the central bank prepares households and businesses for a more accommodative stance.

In turn, the FOMC may reiterate that the “risks to the outlook associated with global economic growth and international trade were still seen as significant,” and the central bank may show a greater willingness to implement lower interest rates in 2020 as the US and China struggle to reach a trade deal.

In response, the Reserve Bank of Australia (RBA) may continue to strike a dovish tone at its next meeting on February 4, and the central bank may look to further insulate the economy over the coming months as “the Board is prepared to ease monetary policy further if needed.”

With that said, waning hopes for US-China trade deal may produce headwinds for the Australian Dollar, and the recent rebound in AUD/USD may prove to be short lived as the exchange rate struggles to extend the rebound from the November low (0.6754).

Sign up and join DailyFX Currency Strategist David Song LIVE for an opportunity to discuss potential trade setups.

AUD/USD Rate Daily Chart

Image of AUD/USD rate daily chart

Source: Trading View

  • Keep in mind, the AUD/USD rebound following the currency market flash-crash has been capped by the 200-Day SMA (0.6913), with the exchange rate marking another failed attempt to break/close above the moving average in July.
  • A similar scenario appears to have taken shape in November as the correction from the yearly low (0.6671) failed to trigger a test of the simple moving average, which largely lines up with the Fibonacci overlap around 0.6950 (61.8% expansion) to 0.6970 (23.6% expansion).
  • The Relative Strength Index (RSI) highlights a similar dynamic as the oscillator snaps the upward trend from August.
  • In turn, recent rebound in AUD/USD may prove to be short lived as the exchange rate struggles to extend the string of higher highs and lows from the November low (0.6754)
  • Lack of momentum to hold above the 0.6830 (23.6% expansion) to 0.6850 (78.6% expansion) region may push AUD/USD back towards the Fibonacci overlap around 0.6720 (78.6% expansion) to 0.6730 (50% expansion), with the next area of interest coming in around 0.6680 (61.8% expansion), which lines up with the yearly low (0.6671).

Additional Trading Resources

Are you looking to improve your trading approach? Review the ‘Traits of a Successful Trader’ series on how to effectively use leverage along with other best practices that any trader can follow.

Want to know what other currency pairs the DailyFX team is watching? Download and review the Top Trading Opportunities for 2019.

--- Written by David Song, Currency Strategist

Follow me on Twitter at @DavidJSong.

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