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
Bullish
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
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
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
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
Breaking news

President Trump formally announces beginning of process to terminate Hong Kong's special treatment status. Announces US will terminate relationship with the World Health Organization.

Real Time News
  • Euro Breakout or Fake-Out? EUR/USD, EUR/JPY Surge to Fresh Highs https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/29/Euro-Breakout-or-Fake-Out-EUR-USD-EUR-JPY-Surge-JS-Euro-to-US-Dollar.html https://t.co/LHfiPGsEW4
  • Even the Hong Kong Dollar is up after that press conference...
  • Eminis treating that press conference like 'that was it?' Market seemed to have fully accounted for the HK special status situation
  • Trump: - Hong Kong is no longer sufficiently autonomous - Beginning the process to eliminate special treatments given to Hong Kong $SPX
  • Trump: - Taking action to protect the U.S. financial system and directing working group to study the differing practices of Chinese companies listed on U.S. exchanges $DXY $NDX
  • President Trump is listing out his accusations for China. Normally, would consider this lead up to sanctions, but he doesn't always follow that playbook
  • President Trump says investment firms should not be subjecting their clients to investing in Chinese companies that do not play by the same rules $FXI
  • Quite the strong language here, #SP500, #DowJones turning lower as #USD rises after brief 'risk-on' spike on reports Trump is not planning to quit the phase-one deal with China. Trump also said the US is 'terminating relationship' with the #WHO https://t.co/nc9wFepYyZ
  • Trump: - We will be terminating our relationship with the WHO and diverting those funds to other health needs around the world $SPX
  • President Trump says the United States is terminating its relationship with the WHO
AUD/USD At Major Level On US Core PCE

AUD/USD At Major Level On US Core PCE

2020-01-31 13:30:00
Austin Sealey, Contributor
Share:

AUD/USD Talking Points:

Since the London session open (3 AM ET) US Dollar price action has been bearish, sending the index down near the 97.75 level. In the same time period, the Australian Dollar has appeared especially sensitive to US Dollar strength. The pair has been unable to catch recent lows of 0.6710 as the US Dollar index has fallen by over 0.15%. When compared to GBP/USD, it is clear to see just how sensitive the Australian Dollar has been to US Dollar Strength.

DXY, AUD/USD, GBP/USD 15-Minute Price Chart

DXY, AUDUSD, GBPUSD 15 minute Price Chart

Chart prepared by Austin Sealey; AUDUSD on TradingView

The Core PCE Price Index is commonly used to measure inflation in the US. The two seasonal and more volatile food and energy prices are left out to paint a clearer picture of price increase or inflation. This measure, along with CPI, is closely watched by the Federal Reserve as a part of determining monetary policy. As a reminder, higher inflation in the short term indicates economic strength. This morning’s print, as can be seen in the DXY chart below, has had an overall minute effect, and the index is still unable to buck support.

DXY 60-Minute Price Chart

one hour dxy price chart

Chart prepared by Austin Sealey; DXY on TradingView

US Core PCE comes in following Wednesday’s FOMC rate decision and yesterday’s annualized 4th quarter 2019 US GDP data release. The US Dollar has witnessed some bearish price action following both data releases, but has since found support at the 97.80 level that has come into play as resistance turning into support since seeing a 2-hr candle closing above the 97.85psychological level.

As risk appetites will continue to vary widely in the coming weeks, traders turn their eyes toward the US manufacturing and employment sectors for Feb 3rd release of ISM data.

--Written by Austin Sealey, Market Analyst for DailyFX.com

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

DISCLOSURES

News & Analysis at your fingertips.