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
More View more
Real Time News
  • The week will start to pick up in earnest with #FAANG earnings and US confidence. DailyFX's @JohnKicklighter discusses what's going on 👇 https://t.co/Aw8deX76nm
  • Big spike by the cable into the London fix. $GBPUSD up 50-pips in the last 15 minutes alone. US Dollar getting offered more broadly too. $USD #Forex #Trading https://t.co/HC3mb4DMFn
  • $MRNA Moderna says manufacturing partners face delays outside of the US -BBG
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.42% 🇬🇧GBP: 0.15% 🇪🇺EUR: 0.07% 🇨🇦CAD: -0.24% 🇦🇺AUD: -0.37% 🇳🇿NZD: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/WzfKjhVb89
  • In the most recent CFTC report, sentiment in the USD has flipped net long for the first time since March 2020. Get your market update from @JMcQueenFX here:https://t.co/b2SLBieMth https://t.co/pNr8HMmG3E
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: -0.41% Wall Street: -0.41% France 40: -0.57% Germany 30: -0.59% US 500: -0.62% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/i4iI8v7dDT
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: 0.22% Oil - US Crude: -0.09% Silver: -0.77% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/ZBo4PP2Vq2
  • 🇺🇸 CB Consumer Confidence (JUL) Actual: 129.1 Expected: 123.9 Previous: 128.9 https://www.dailyfx.com/economic-calendar#2021-07-27
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.24%, while traders in Wall Street are at opposite extremes with 74.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/quIfTqIUg8
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Gold: 0.19% Oil - US Crude: -0.09% Silver: -0.48% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/Wx9svtAsnx
Australian Dollar Forecast: AUD/USD Struggles, Greenlight Coming for RBA Action?

Australian Dollar Forecast: AUD/USD Struggles, Greenlight Coming for RBA Action?

Justin McQueen, Analyst

AUD/USD Analysis & News

  • RBA Governor to Give Greenlight for RBA Easing
  • AUD/USD Topside Struggling at 0.7200
Advertisement

RBA Governor to Give Greenlight for RBA Easing

The main event for the Australian Dollar will be the scheduled speech from RBA Governor Lowe at 23:00BST. The focus for market participants will be whether Governor Lowe gives the greenlight that further easing will likely take place at the November meeting. As a reminder, at the September policy decision, the RBA acknowledged that the 3yr yield had fallen below the 25bps target as markets priced in the probability of more monetary stimulus. Given that this signals that the RBA are supporting current market pricing, this has raised scope that the RBA will go down this route at the upcoming meeting. Confirmation from RBA Governor Lowe tonight can see AUD/USD hold below 0.72.

The other focal point for the Australian Dollar will be the employment report with particular attention placed on the unemployment rate. While the RBA does not see the unemployment hitting 10%, the RBA have noted that the rate is expected to remain high and thus a higher than expected figure in the upcoming report is likely to further validate the case for a November easing package.

AUD/USD Topside Struggling at 0.7200

An interesting observation this week in FX markets has been the limited spill over from higher equities into high-beta currencies, most notably the Aussie. Among the reasons behind this has been the two way risks facing the Yuan now after the PBoC lowered the costs to short the currency, while the upcoming speech from RBA Governor Lowe also presents a risk for the AUD. In the short-term, option expiry at 0.7175-80 looks to keep upside capped for now, above however, puts the psychological 0.7200 into focus, which also coincides with the option implied high. As such, with the renewed bid in the greenback the AUD bias is for fading bounces.

(Implied range based on option pricing: 0.7120-0.7200)

10 Most Popular Candlestick Patterns

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

DISCLOSURES