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
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • AUD/USD has had the most impressive show of trend over the past couple of months with the pair gaining almost 1500 pips from the March low. Get your $AUDUSD technical analysis from @JStanleyFX here: https://t.co/vLz4Rpln3u https://t.co/AOwnJja5V8
  • Has the #Euro been saved? Find out from @CVecchioFX here: https://t.co/eiXfOTyGa6 https://t.co/AyRiYpb4cN
  • U.S. Market Analyst at https://t.co/JsVsSmefgR, Shain Vernier covers - ✔️ Safe haven assets in volatile markets ✔️ Central banks and governments ✔️ How will commodities trade in a recession Only on Trading Global Markets Decoded #podcast. Tune in here: https://t.co/1UmEzEbwiy https://t.co/ygwjGNvS61
  • The $USD, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop. Find out from @ZabelinDimitri here: https://t.co/L8cfAgVx94 https://t.co/THWhPAS6AM
  • The price of #gold plunged 1% immediately after the stunning US jobs report crossed the wires. Get your market update from @RichDvorakFX here: https://t.co/8i0L6YIqjy https://t.co/y9dIXazJf9
  • S&P 500, Dow Jones, Nasdaq explode higher with stocks surging in response to shockingly better-than-expected monthly jobs data. Get your #equities market update from @RichDvorakFX here: https://t.co/nuMVWOzzuC https://t.co/M3nGBjd7kZ
  • The record-breaking NFPs increase behind us and the FOMC rate decision on Wednesday sets the tone for my trading video: 'Dow Soars Above 200-Day Average on NFPs, Will the #Fed Keep the Dollar Sliding' https://www.dailyfx.com/forex/video/daily_news_report/2020/06/06/Dow-Soars-Above-200-Day-Average-on-NFPs-Will-the-Fed-Keep-the-Dollar-Sliding.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/kquvec5HVc
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/OsaphmqEmu
  • Are recent gains in the Indian Rupee and Nifty 50 warranted? Risks are brewing in the background, leaving USD/INR in a consolidative setting as the Nifty pressures resistance. Get your $USDINR market update from @ddubrovskyFX here:https://t.co/svDaSdprvN https://t.co/kgddX1ZHe4
  • I approve of this dry humor. https://t.co/b42GmIZDlL
AUDUSD Rises on Fed Doves and Trade War Optimism, However, Downtrend Remains Intact

AUDUSD Rises on Fed Doves and Trade War Optimism, However, Downtrend Remains Intact

2019-01-11 09:00:00
Justin McQueen, Analyst
Share:

AUD Analysis and Talking Points

  • Chinese Proxy AUD Rises on US-China Trade Optimism
  • Patient Fed Keeps AUD Afloat
  • Australian Retail Sales Surprises to Upside

DailyFX Q1 2019 Trading Forecasts for AUD

Chinese Proxy AUD Rises on US-China Trade Optimism

The Australian Dollar has continued its rise against the greenback amid the support from a rise in the Yuan, which is trading at its strongest level since July. Of note, the Yuan has seen a 2% rise against the Dollar in the past two weeks, which may be a telling sign over the progress being made in trade talks. Overnight, Treasury Secretary Mnuchin stated that it is most likely that Chinese Vice Premier Liu will most likely visit the US in January for trade talks. As such, AUDUSD is above 0.72 for the first time in 3-weeks, however, resistance is situated at the high 0.72s.

Patient Fed Keeps AUD Afloat

The Aussie had been delivered a further boost after another round of dovish commentary from Fed’s Powell and Clarida. Most notably Clarida stated that the central bank can be patient in assessing how to adjust US policy as data evolves in 2019, adding that they will not hesitate to make changes to strategy of shedding assets. This was much the same rhetoric that Powell had provided. Consequently, the continued unwind of Fed-induced strength could see the AUD keep firm against the USD.

Australian Retail Sales Surprises to Upside

Latest Australian retail sales data printed above analyst estimates at 0.4% (Exp. 0.3%), suggesting that consumers have not been put off by the drop in house prices. That said, positive consumer spending signals may see Q4 GDP on a firmer footing.

AUDUSD Price Chart: Daily Time Frame (Feb 2018 – Jan 2019)

AUDUSD Rises on Fed Doves and Trade War Optimism, However, Downtrend Remains Intact

Despite the push higher in the Australian Dollar, the currency is stuck within the downtrend that has been in place since the beginning of the 2018. Eyes are on key resistance situated at 0.7270-80 which may hold unless there is an agreement made with regard to the US-China trade war.

AUD TRADING RESOURCES:

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

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

DISCLOSURES

News & Analysis at your fingertips.