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. See our updated Privacy Policy here.

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
Oil - US Crude
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
More View more
Real Time News
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/danCiP5vqK
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/JhYoQ7I19K
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here: https://t.co/BEYupi32qB https://t.co/PWeXE8tZVY
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/t34kotPE8R
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/lM1OIJdjhr
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/6qGEVjDlN6
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here: https://t.co/T7iAD0fbbU https://t.co/xVSG7nKIQG
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/HGWZikGQAa
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here: https://t.co/bZEFtp8kFe https://t.co/2cQ0JgAfh7
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:https://t.co/H1vmag8d1k https://t.co/1zuPdKUmyE
Australian Dollar Declined as Consumers Grew Weary

Australian Dollar Declined as Consumers Grew Weary

Gary Kerdus,

THE TAKEWAY: Australian consumer confidence waned > Global slowing likely to weigh on sentiment > Australian Dollar declined

The Australian Dollar declined in value versus the U.S. Dollar as Australian consumers feel less confident about their economic future. The Westpac Consumer Confidence Index registered 96.6 in August, down from 99.1 in July marking a 2.5 percent drop in optimism for the month. The index measures family finances from a year ago as well as projected economic conditions over the next one to five years. The last component indicates buyer’s willingness to purchase major household items. A reading below 100 suggests a greater degree of pessimism than optimism.

Although confidence has waned, recent wage data suggests workers have earned slightly more in the second quarter and throughout the year as the Wage Cost Index reports labor earned 3.7 percent more this year compared to last year. However, recent talks of global slowdown may have played a role in the unwillingness to consume as economic uncertainty throughout Europe and China pose substantial risks to the Aussie economy.

During times of economic uncertainty investors have a propensity to hold assets that are less risky like the U.S. Dollar and sell higher yielding investments that carry greater degree of risk like the Australian Dollar. Furthermore, volatility and volume measures have been abnormally low throughout financial markets during August. Often, risk aversion accelerates as volatility increases.

AUD/USD, 1 Minute Chart

Australian_Dollar_Declined_as_Consumers_Grew_Weary_body_Picture_1.png, Australian Dollar Declined as Consumers Grew Weary

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

DISCLOSURES