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
  • Canadian Dollar snapped a three-week losing streak after USD/CAD stalled at key technical resistance. Get your CAD weekly forecast from @MBForex here: https://t.co/BPHuKecwnz https://t.co/73OmuCKfU9
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/KzhQnGiLyt
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cuneuJNZlH
  • 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
Australian Dollar Leaps As Trade and Building Data Smash Consensus

Australian Dollar Leaps As Trade and Building Data Smash Consensus

David Cottle, Analyst

Talking Points:

  • Australia’s trade surplus soared ahead of expectations in September
  • Building-permit levels did likewise
  • The Australian Dollar duly gained, but question marks still glower over domestic demand

Just getting started in the AUD/USD trading world? Our beginners’ guide is here to help

The Australian Dollar caught a strong bid Thursday following some expectation-shredding economic data.

The county’s September trade surplus romped in at A$1.74 billion (US$1.3 billion). That was hugely better than the A$1.2 billion expected. Exports took off by 3% on the month with imports rising only 0.5%.

Building permit levels for the same month also smashed consensus, rising 1.5% from August when a 1% fall had been expected.

These numbers boosted AUD/USD, unsurprisingly, as they show that parts of the Australian economy are extremely robust. However, prices and wage levels remain subdued and private debt levels are stratospheric, both of which may mean that Thursday data have little bearing on the interest-rate prognosis. The trade data back up a picture of a revving Australian external sector with domestic demand lagging behind.

Australian Dollar Leaps As Trade and Building Data Smash Consensus

The Reserve Bank of Australia is expected to leave the Official Cash Rate alone at its 1.50% record low until well into next year, according to rate-futures markets. Investors will get the RBA’s next steer on the matter next Tuesday when the central bank will give its November monetary-policy decision.

On its broader, daily chart, AUD/USD remains very much stuck in the persistent downtrend which has characterised trade since the year’s highs were marked in September. However, the last few days’ action has seen the pair possibly attempting to build some kind of base at this week’s lows, in the 0.76390 area.

Australian Dollar Leaps As Trade and Building Data Smash Consensus

Thursday’s strong Australian numbers may contribute a lot to this process, and the weekly closing level will now be most interesting.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter: @DavidCottleFX

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

DISCLOSURES