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.

Free Trading Guides
EUR/USD
Mixed
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
Oil - US Crude
Mixed
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
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
Mixed
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
  • White House Economic Advisor Hassett says some workers going back to their jobs is building confidence $DXY $SPX
  • Gold Price Outlook: XAU Overbought as Cycles Drive the Bullish Trend https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/28/Gold-Price-Outlook-XAU-Overbought-as-Cycles-Drive-the-Bullish-JS-Trend.html $Gold https://t.co/ntbvPQTHF9
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.34% Gold: 0.26% Oil - US Crude: -0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/yvJX18QY14
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.91%, while traders in US 500 are at opposite extremes with 74.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/l7878VS4m7
  • As long as this moves forward, the verbal (Twitter) threats of action between the US and China will garner less and less actual market movement https://t.co/pvGOJuAG4N
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.99% Wall Street: 0.76% FTSE 100: 0.08% France 40: -0.03% Germany 30: -0.11% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/f3oAYUPoEj
  • White House Advisor Kudlow says phase-one deal with China is still planned to move forward $FXI $SPX
  • White House Advisor Kudlow says "big mistake" for China going into Hong Kong - BBG
  • The S&P 500 is approaching secondary breakout targets up here and the rally may be vulnerable heading into uptrend resistance. Get your S&P500 technical analysis from @MBForex here: https://t.co/21a20ql6RH https://t.co/elk1mcR4UM
  • U.S. House passes bill expanding the PPP loan program rules $SPX
AUD/USD Looks Past Jobs Data, Risk Trends Point to Losses Ahead

AUD/USD Looks Past Jobs Data, Risk Trends Point to Losses Ahead

2018-12-20 01:00:00
Megha Torpunuri,
Share:

TALKING POINTS – AUD/USD, UNEMPLOYMENT RATE, FED, EQUITIES

  • Australian Dollar rose against greenback on mixed jobs data, but lacks follow-through
  • AUD/USD prices resume 2018 downtrend, with more bearish momentum perhaps ahead
  • Aussie looks to risk aversion,November’s US durable goods orders and consumption data

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

The Australian Dollar was cautiously higher against its US counterpart after local employment data crossed the wires early into Thursday’s Asia Pacific trading session. November’s unemployment rate came in at 5.1%, an increase from both the expected and previous 5.0%. TAustralia’s economy added 37.0k jobs during last month, up from the 20.0k forecasted and 28.7k prior. Meanwhile, full-time employment declined by 6.4k jobs, compared to October’s 39.5k gain.

AUD/USD Chart (5-minute)

AUD/USD Looks Past Jobs Data, Risk Trends Point to Losses Ahead

Chart prepared in TradingView

The slight uptick in prices is may not continue, as AUD/USD has maintained its downward trend under the descending February 2018 trend line. An Inverse Head and Shoulders formation occurred on the currency pair’s rally on the news of a temporary US-China trade truce, but negative RSI divergence has been confirmed with recent losses as expected. A break above the 0.7140-0.7192 support-turned-resistance levels could indicate an upswing in prices but interest rate differentials. In addition, declining Australian growth suggests that the Aussie can add to losses.

AUD/USD Chart (Daily)

AUD/USD Looks Past Jobs Data, Risk Trends Point to Losses Ahead

Chart prepared in TradingView

Looking ahead, the sentiment-linked unit may extend losses following widespread risk aversion as equities tumbled in response to a more hawkish Fed and with the S&P 500 poised to enter a bear market. In addition, the currency pair will be closely eyeing the release of preliminary US durable goods orders and personal consumption expenditure data for the month of November.

AUD/USD Trading Resources

--- Written by Megha Torpunuri, DailyFX Research Team

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

DISCLOSURES

News & Analysis at your fingertips.