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
Oil - US Crude
Bearish
Wall Street
Bearish
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
Bullish
GBP/USD
Bullish
USD/JPY
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
  • Heads Up:🇩🇪 Retail Sales YoY (OCT) due at 07:00 GMT (15min) Expected: 5.9% Previous: 6.5% https://www.dailyfx.com/economic-calendar#2020-12-02
  • Wall Street Futures Update: Dow Jones (-0.406%) S&P 500 (-0.246%) Nasdaq 100 (-0.122%) [delayed] -BBG
  • Seems there is some surprise on reports (from NYT) that President-Elect Biden will not reverse the Phase One trade deal and tariffs on China. The international mood towards China is particularly cool. Now, relations with Canada and Mexico or the EU over Airbus is another matter
  • The bull flag pattern is a great pattern to add to a forex trader's technical arsenal. Explosive moves are often associated with the bull flag. Learn more about the bull flag pattern here: https://t.co/yOEvLjKnct https://t.co/EyHrHRYZfA
  • IGCS hints that #gold may reverse higher as the #SP500 aims for new highs. Things are looking a little bit more choppy for the growth-linked Australian Dollar. Check out my full report with webinar recording here - https://www.dailyfx.com/forex/technical/article/special_report/2020/12/02/Gold-Price-SP-500-AUDUSD-Forecast-How-Might-Retail-Traders-Behave-Next.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/8ueRCILgdY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.48%, while traders in EUR/USD are at opposite extremes with 76.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cVNpB5eeUn
  • President-Elect Joe Biden: Says won't immediately remove China phase-one tariffs, want to conduct full review of existing deal -BBG citing NYT
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.06% 🇨🇭CHF: 0.04% 🇪🇺EUR: 0.02% 🇬🇧GBP: -0.04% 🇨🇦CAD: -0.07% 🇯🇵JPY: -0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/R2Yhd6rNKp
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: US 500: -0.26% France 40: -0.37% Germany 30: -0.41% Wall Street: -0.42% FTSE 100: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hQtLQEWzDp
  • 🇯🇵 Consumer Confidence (NOV) Actual: 33.7 Previous: 33.6 https://www.dailyfx.com/economic-calendar#2020-12-02
AUD/USD Above Falling Resistance as Inflation Expectations Rise

AUD/USD Above Falling Resistance as Inflation Expectations Rise

2018-03-15 01:15:00
Daniel Dubrovsky, Analyst
Share:

Talking Points:

  • The Australian Dollar didn’t notice rising consumer inflation expectations
  • Perhaps because the RBA looks like it’s not going anywhere with rates soon
  • Domestic data next week could add fuel to AUD/USD’s upside momentum

Build confidence in your own AUD/USD strategy with the help of our free guide!

The Australian Dollar didn’t show much enthusiasm for the Melbourne Institute of Applied Economic and Social Research inflation survey. There, price expectations for the next 12 months are anchored at 3.7%, higher than the 3.6% reported outcome back in February.

However, even if participants foresee higher prices in the near-term, the Reserve Bank of Australia has a clear message for everyone. Earlier this month, the central bank reiterated that holding the stance of monetary policy unchanged is the way to go. With that in mind, the RBA probably won’t act on today’s survey.

In the meantime, the Australian Dollar will probably remain vulnerable to risk trends. On Wednesday, the Aussie Dollar suffered towards the end of the session as Germany’s Chancellor Angela Merkel unnerved investors. She noted that a response to the US tariffs might be in the cards if the EU can’t get any exemptions.

On the domestic side of things, next week’s we will get Australia’s February employment report. Keep an eye on what ends up happening to changes in the full-time sector specifically. This is because in the past, losses on this front influenced the Australian unit negatively despite net gains in workers and vice versa.

AUD/USD Above Falling Resistance as Inflation Expectations Rise

AUD/USD Technical Analysis: Hammering On

On a daily chart, AUD/USD has been pushing higher since forming a hammer on March 1st. A hammer is a bullish reversal pattern that can form at the end of a downtrend. Since then, the pair has also pushed above a descending trend line that goes back to the beginning of February. However, there are some obstacles ahead.

The half-way point of the Fibonacci retracement (drawn below) stands in the way as immediate resistance at 0.7924. A push above that exposes the 61.8% ratio at 0.7974. On the other hand, if prices turn lower they will have to push below the 38.2% retracement at 0.7874. A break below that leaves the 23.6% area at 0.7812 as the next target.

AUD/USD Above Falling Resistance as Inflation Expectations Rise

Australian Dollar Trading Resources:

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES