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
EUR/USD
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
Oil - US Crude
Bullish
Wall Street
Bearish
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
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • The Spinning Top candlestick pattern forms part of the vast Japanese candlestick repertoire with its own distinct features. Gain a better understanding of the spinning top candlestick here: https://t.co/DWm7cBMUg9 https://t.co/5KaUvfGM4I
  • 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: https://t.co/J0EPMD2Cfi https://t.co/9Bjkh5413e
  • 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/FqAsp91Gia
  • 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/cKOUmtj7Dj
  • 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: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/cDcjl3Ue09
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/KWOX5wSipe
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/cwSWCpKtaj
  • 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: https://t.co/mfwJ0sZLTs https://t.co/zu5hMovbz6
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/QMKyTBOKNG
AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension

AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension

Justin McQueen, Analyst

AUD & NZDPrice Analysis and Talking Points:

  • Trade War Relief Boosting Risk Appetite
  • Strong NZ Data Also Underpins Kiwi, Eyes on RBNZ Speak

See our quarterly AUD forecast to learn what will drive prices throughout Q1!

Trade War Relief Boosting Risk Appetite

Both the Aussie and Kiwi gained on the back of comments by President Trump, in which he stated that he would delay the planned tariff increase on Chinese imports (Deadline March 1st) and that he will be looking to have summit with President Xi once an agreement can be reached. Consequently, antipodeans are outperforming across the board with AUD and NZD hitting highs of 0.7160 and 0.6883 respectively.

Strong NZ Data Also Underpins Kiwi, Eyes on RBNZ Speak

The Kiwi has also found support from strong NZ retail sales volume figures, whereby the headline figure surged 1.7%, which was a notable pick-up from the flat reading in the prior quarter. As such, this suggests that New Zealand’s economy at the backend of the year remained relatively strong, which in turn poses upside risks to Q4 GDP data. In turn, AUDNZD has edged back down towards 1.04. However, eyes are now set on RBNZ Deputy Governor Bascand, who is scheduled to speak at 2330GMT. As a reminder, Bascand last week opened up the possibility for the central bank to cut rates over proposals to increase bank capital requirements.

AUDUSD PRICE CHART: Daily Time-Frame (Dec 2017-Feb 2019)

AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension

Chart by IG

AUDUSD edging towards the 0.72 handle, which could cap further upside for now. A closing break above however, leaves scope for a move to 0.7260-0.7270.

NZDUSD PRICE CHART: Daily Time-Frame (Aug 2018 – Feb 2019)

AUDUSD & NZDUSD Lifted on Trade War Relief as Trump Offers Deadline Extension

NZDUSD eyes a test of near-term topside resistance at 0.69, while the 2019 high at 0.6940 could also limit further gains.

FX 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