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
EUR/USD
Mixed
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
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
Gold
Mixed
GBP/USD
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
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
  • 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/sR7HqpK8BI https://t.co/Q6WGzHhudp
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/2MCG036HGH https://t.co/CbnRsuyRwi
  • #Gold saw its worst performance the past 5 days in 5 months as longer-dated government bond yields in developed countries rose Could this be the beginning of a turning point in #XAUUSD? https://www.dailyfx.com/forex/fundamental/forecast/weekly/chf/2020/08/15/Gold-Price-Outlook-Will-XAUUSD-Brush-off-Worst-Week-in-5-Months.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/x2Indk3b7P
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/PT09ZsIOCa
  • The US #Dollar may rise, buoyed by haven demand as fiscal stimulus talks stagnate and swelling tensions between Washington and Beijing sink trade talks. Get your #currencies update from @DanielGMoss here: https://t.co/Wcw9PDUr67 https://t.co/gnYZYl6aLV
  • Upside in #CrudeOil struggling ahead of #OPEC meeting. Cartel likely to maintain wait and see approach. Get your #commodities update from @JMcQueenFX here: https://t.co/gNHHKoTUzm https://t.co/eF40DRIBJ5
  • #Gold had some big moves last week, and while vol is expected to die down a bit, it will be important to see if gold can hold its ground in the coming days/weeks. Get your #metals update from @PaulRobinsonFX here: https://t.co/N8a84hRnHN https://t.co/3fjodPHTDm
  • The S&P 500's refusal to hit a record and Dollar's anchor to range this past week is sign of summer liquidity conditions, but the quiet is not insurmountable. 'S&P 500 Record and Dollar Break Look to Stimulus and Trade to Override Seasonality' https://www.dailyfx.com/forex/video/daily_news_report/2020/08/15/SP-500-Record-and-Dollar-Break-Look-to-Stimulus-and-Trade-to-Override-Seasonality-.html https://t.co/mbvPkdQfYl
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkcMZBK https://t.co/kFk6ccU3Sk
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/aXSB0bG3y0
ASX 200 Outlook Hinges On Fiscal Support As Covid-19 Cases Surge

ASX 200 Outlook Hinges On Fiscal Support As Covid-19 Cases Surge

2020-07-08 02:00:00
Daniel Moss,
Share:

ASX 200, Covid-19 Lockdown Restrictions, Australian Fiscal Policy – Talking Points:

  • A ‘second wave’ of coronavirus cases in Australia’s second-biggest city threatens to hamper the nation’s tentative recovery
  • Uncertainty around the future of current fiscal policy measures could weigh on regional risk assets
  • The ASX 200 struggles to breach key Fibonacci resistance as technical divergence suggests a leg lower may be on the cards.

Melbourne Placed Under Stage 3 Lockdown as Covid-19 Cases Surge

An explosion of coronavirus cases in Melbourne’s inner suburbs has forced the hand of Victorian Premier Daniel Andrews, re-imposing state-wide stage 3 lockdowns on Australia’s second biggest city, for the next six weeks.

Estimated to cost the local government $1 billion a week, these measures were certainly not taken lightly as Andrews apologized for finding “ourselves in this position” whilst stressing that “getting this virus and dying from it is very onerous too”.

Image of Australian Covid-19 Cases

Source – Covid19Data

With the state accounting for “about a quarter of the national economy” Treasurer Josh Frydenberg believes this recent set-back is a “serious impediment to the nation’s recovery, not just Victoria”.

However, the Treasurer remains tight-lipped despite coming under increasing pressure to reveal what the fiscal landscape will look like after September, vaguely stating that “another phase of support will go the people who need it”.

Having announced over “$260 billion in economic support”, accounting for roughly “13% of GDP”, supplementary measures may not be as robust as expected, with the government looking to implement “temporary, targeted, scalable and proportionate” measures to tackle the “challenges that we face”.

To that end, regional sentiment may remain pinned to local coronavirus concerns ahead of the July 23 economic address, with Prime Minister Scott Morrison expected to quench investor’s appetite for further fiscal stimulus.

Inability to do so could fuel risk aversion, ultimately stifling the recent rally seen in the ASX 200.

Trading Forex News: The Strategy
Trading Forex News: The Strategy
Recommended by Daniel Moss
Trading Forex News: The Strategy
Get My Guide

ASX 200 Daily Chart – 61.8% Fibonacci Continues to Diffuse Bullish Potential

Image of ASX 200 Price Daily Chart

ASX 200 daily chart created using TradingView

The ASX 200 continues to struggle at pivotal 61.8% Fibonacci resistance (6,124) as fading fundamentals hamper the Australian benchmark index’s recovery from the March low (4,387).

A sustained correction lower looks to be on the cards as the RSI fails to follow price higher, suggesting exhaustion in the most recent rally from the 50% Fibonacci (5,792).

A daily close below the psychologically imposing 6,000 may trigger further selling, with a breach of support at the 50-day moving average (5,767) potentially carving a path back to the April high (5,589).

Traits of Successful Traders
Traits of Successful Traders
Recommended by Daniel Moss
Traits of Successful Traders
Get My Guide

--- Written by Daniel Moss

Follow me on Twitter @DanielGMoss

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

DISCLOSURES

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.