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.



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
  • *Schedule Reminder: Weekly Strategy Webinar on Monday at 8:30am EST (12:30GMT) with DailyFX - Mid-Week Market Update on Wednesday at 9:30am EST (13:30GMT) with IG -
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • 8 out of 11 S&P 500 sectors ended higher, with 69.5% of the index’s constituents closing in the green. Financials (+0.61%) and information technology (+0.56%) outperformed, while healthcare (-0.73%) and real estate (-0.59%) trailed behind.
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • What is your forex trading style? Take the quiz and find out:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • 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:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
Australian Dollar Up On NAB Business Snapshot, New Uptrend Holds

Australian Dollar Up On NAB Business Snapshot, New Uptrend Holds

David Cottle, Analyst

Talking Points:

  • The Australian Dollar rose on NAB’s business survey
  • Confidence slipped back a little but current conditions were assessed as upbeat
  • NAB said the survey was consistent with earlier monetary tightening

Find out how to be a better Australian Dollar trader with the free DailyFX guide

The Australian Dollar got only a modest boost Tuesday despite an upbeat assessment of business conditions.

February’s monthly Business Confidence indicator from the National Australia Bank found the conditions index at 21- a record high. However overall business confidence slipped back a little. It came in at 9, below the 11 recorded in January. The employment index surged to points to 16- also a record peak.

NAB said activity was strong and broad based, with all major industry groups reporting better-than-average conditions. It added that the survey was consistent with strong domestic demand. It said that by the end of 2018 the Reserve Bank of Australia should start to feel relaxed enough about domestic fundamentals to start cautiously withdrawing monetary stimulus.

Australian interest-rate futures markets meanwhile do not fully price an increase in the record-low, 1.50% Official Cash Rate until the start of 2019.

AUD/USD gained on the release of the survey, with investors seeming to accentuate the admittedly plentiful positive aspects rather than the more disappointing overall confidence snapshot. However weaker home-loan data for January came out just before the NAB survey and may have taken a little shine off. Loans fell by 1.1% on the month, much weaker than the 0.2% slip forecast.

Australian Dollar Up On NAB Business Snapshot, New Uptrend Holds

More broadly the Australian Dollar seems to have benefitted from the revival in risk appetite which has sprung from hopes for a nuclear deal between the US and North Korea, and those very strong US labor-market numbers which saw daylight last week. For now those two factors seem to be outweighing more worrying possibilities, such as an increase in global trade barriers.

On its daily chart AUD/USD has duly bounced from the lows of early March and, significantly, broken above the medium-term downtrend line from the three-year highs marked at the end of January. Now a new uptrend channel from March 1’s lows holds sway and should probably be respected. AUD/USD is currently toward the top of that channel on its daily chart.

Australian Dollar Up On NAB Business Snapshot, New Uptrend Holds

The next obvious resistance level comes in at 0.7895. This was February 26’s intraday high and a few closes above it would put the bulls in firm command.

Resources for Traders

Whatever your trading level and experience, DailyFX has a product which can help you be better. Take a look at our valuabletrading sentiment indicator. It will show you how IG clients are positioned, right now in real time. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter @DavidCottleFX or use the Comments section below to get in touch!

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