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
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
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders 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:
  • Further your forex knowledge and gain insights from our expert analysts on EUR with our free guide, available today:
  • Scoping out next week for trading the market, there are a range of high profile influences including September PMIs, Evergrande and a range of central bank decisions. Top listing on my docket is the #FOMC with my scenarios below. Full analysis:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • All eyes on the Fed on Wednesday as investors weigh on chances of a taper announcement. Get your weekly equities forecast from @HathornSabin here:
  • 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:
  • 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:
  • The US Dollar caught a bid in the late part of last week to set a fresh September high. FOMC is around the corner, are bulls going to be able to push for another fresh high? Get your weekly US Dollar forecast from @JStanleyFX here:
AUD/USD Down Under, Crude Oil Prices Choppy on OPEC - US Market Open

AUD/USD Down Under, Crude Oil Prices Choppy on OPEC - US Market Open

Justin McQueen, Strategist

MARKET DEVELOPMENT – AUD/USD Drops, Crude Oil Prices Choppy on OPEC

DailyFX 2019 FX Trading Forecasts

Crude Oil: As to be expected, it has been a volatile session thus far for crude oil futures amid the bi-annual OPEC meeting. Brent crude futures had hit highs of $63.84 early in the European session following reports that OPEC may consider deeper cuts of 500kbpd. However, deeper cuts had later been rebuffed by Saudi official sources who noted that Saudi Arabia are not advocating deeper cuts. As is usually the case, oil prices are likely to swing back and forth amid the flurry of OPEC source reports. (full report)

AUD/USD Down Under, Crude Oil Prices Choppy on OPEC - US Market Open

*3-month correlation with Brent crude oil

AUD: The RBA’s unease over subdued household consumption, which had been highlighted in the Q3 GDP report, looks to have spilled into Q4 with the October retail sales dropping to 0%, missing expectations of 0.3%. Consequently, the Australian Dollar is among the underperformers in the G10 complex and thus looks to make a retest of 0.68 with a move lower in AUD/NZD also likely to be favoured.

AUD/USD Down Under, Crude Oil Prices Choppy on OPEC - US Market Open

Source: RBA

AUD/USD Down Under, Crude Oil Prices Choppy on OPEC - US Market Open

Source: DailyFX, Refinitiv

Economic Calendar (5/12/19)

AUD/USD Down Under, Crude Oil Prices Choppy on OPEC - US Market Open

Source: DailyFX,


  1. Crude Oil Volatility Soars amid OPEC Risk, Investors Bet on Oil Price Breakout” by Justin McQueen, Market Analyst
  2. Gold Price: Key Chart Levels in Focus - XAU/USD Technical Forecast” by Nick Cawley, Market Analyst
  3. DAX 30 & CAC 40 Technical Outlook: Appears to Have Only Been a Pullback” by Paul Robinson, Currency Strategist

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at

Follow Justin on Twitter @JMcQueenFX

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