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  • USD rallying today amid an otherwise bad day for 'risk FX' - and that's par for the course for August. Latest seasonality report: https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2021/08/03/monthly-forex-seasonality-august-2021-great-for-gold-bad-for-risk-fx.html
  • GBP/USD is continuing its modest climb higher that began a fortnight ago, and could hit the psychologically important 1.40 level soon. Get your $GBP market update from @MartinSEssex here:https://t.co/p7X6envgGA https://t.co/N24E4oTDxs
  • EUR/USD Nosedives on Record US Services PMI, Clarida Remarks -via @DailyFX Link to Analysis - https://www.dailyfx.com/forex/market_alert/2021/08/04/eur-usd-nosedives-on-record-us-services-pmi-clarida-remarks.html $EURUSD $DXY #Forex
  • Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.46% 🇨🇦CAD: -0.00% 🇬🇧GBP: -0.02% 🇪🇺EUR: -0.17% 🇨🇭CHF: -0.24% 🇯🇵JPY: -0.46% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/n6oAzR0k7T
  • The Clarida Curveball appears to have come in ~1 hour 20 minutes after the nasty ADP report (and five mins after I started the webinar) After ADP - $USD puts in bee-line to support, when testing bottom of the zone, Clarida's comments this is what's doing the driving https://t.co/svO0TPdYRV
  • Barring a US government shutdown and/or hijinks around the September/October debt ceiling, a December 2021 taper announcement followed by commencement in January 2022 is still likeliest path forward imo
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.92% FTSE 100: 0.32% France 40: 0.32% US 500: -0.30% Wall Street: -0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/a2A4qPD7PQ
  • Fed's Clarida says "If my baseline outlook does materialize, then I could certainly see supporting announcing a reduction in the pace of our purchases later this year." That would fit with the taper timeline that markets have eyed for months Note: announcement ≠ start of taper https://t.co/MlHqicHHhB
  • RT @VPatelFX: ⚠️ It's not unusual for fringe FOMC members to have different views but can't recall a time when 3 senior Fed officials have…
  • $USD jumped off of the bottom of that range support and is already testing resistance next resistance 92.43-92.46 $DXY https://t.co/BYKipmNTtU https://t.co/kJggSshZLV
Australian Dollar Short Positions Continue to Fall

Australian Dollar Short Positions Continue to Fall

DailyFX Research,
Australian Dollar Short Positions Continue to Fall

Why and how do we use IG Client Sentiment in trading? See our guide.

AUDUSD: Retail trader data shows 59.8% of traders are net-long with the ratio of traders long to short at 1.49 to 1. In fact, traders have remained net-long since May 03 when AUDUSD traded near 0.74258; price has moved 0.7% lower since then. The number of traders net-long is 0.9% lower than yesterday and 0.8% lower from last week, while the number of traders net-short is 4.9% lower than yesterday and 16.0% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUDUSD-bearish contrarian trading bias.

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

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