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David Song Profile
David Song

@DavidJSong

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New York City
Joined March 2009
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@DavidJSong
David Song
1 year
REMINDER: Will now be hosting the Weekly Fundamental Market Outlook on Wednesday at 10am ET. Register Here:
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@DavidJSong
David Song
2 years
Join me to cover the US Consumer Price Index (CPI) on Tuesday, February 14th at 8:15 ET. Register here -
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@DavidJSong
David Song
1 year
AUD/USD Forecast: Post-RBA Rally Eyes May High
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@DavidJSong
David Song
7 years
Anyone else watching $gold take out the 2017 high?
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@DavidJSong
David Song
1 year
EUR/USD struggles to test yearly high ahead of NFP report
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@DavidJSong
David Song
2 years
#XAUUSD #gold update #Gold continues to pull back from the monthly high ($1929) but RSI has yet to fall back from overbought territory.
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@DavidJSong
David Song
1 year
USD/JPY rate clears April opening range ahead of US CPI
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@DavidJSong
David Song
1 year
USD/CAD forecast: Canadian dollar vulnerable to wait-and-see BoC
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@DavidJSong
David Song
7 months
FOMC Minutes: 'Participants highlighted the uncertainty associated with how long a restrictive monetary policy stance would need to be maintained. Most participants noted the risks of moving too quickly to ease the stance of policy and emphasized the importance of carefully
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@DavidJSong
David Song
7 months
FOMC: 'The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent.'
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@DavidJSong
David Song
10 months
British Pound Forecast: #GBPUSD Pulls Back from Channel Resistance
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@DavidJSong
David Song
2 years
#gold $XAUUSD trades to a fresh monthly low ($1832) after struggling to push back above the 50-Day SMA ($1856). Could see a move towards the January low ($1824) as #gold fails to respond to the positive slope in the moving average.
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@DavidJSong
David Song
9 months
US Dollar Forecast: #GBPUSD Ascending Channel Remains Intact
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@DavidJSong
David Song
10 months
Seeing $USD strength following Powell's speech at the IMF with long-term Treasury yields on the rise. Interested to see the reaction to the US CPI on tap for next week. Keep in mind, the @ClevFedResearch Inflation Nowcasting model reflects sticky core CPI & PCE for October &
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@DavidJSong
David Song
1 year
Gold price outlook mired by RSI divergence
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@DavidJSong
David Song
1 year
#FOMC Seeing a lot of discussions how monetary policy works with a lag so the Fed should pause. But am I the only one that thinks the lag is evolving (becoming shorter) given the advances in technology & flow of information?
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@DavidJSong
David Song
1 year
GBP/USD Susceptible to Break of August Opening Range
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@DavidJSong
David Song
9 months
US Dollar Forecast: #EURUSD Halts Six-Day Selloff Ahead of US NFP
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@DavidJSong
David Song
5 years
RBA: The coronavirus outbreak overseas is having a significant effect on the Australian economy at present, particularly in the education and travel sectors. The uncertainty that it is creating is also likely to affect domestic spending.
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@DavidJSong
David Song
2 years
$USDJPY continues to trade within last week's range while largely tracking a downward trend, which aligns with the negative slope in the 50-Day SMA (133.18). Need a clear break above the range along with a move above the moving average to challenge the bearish trend.
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@DavidJSong
David Song
7 years
Should be an interesting week for $USD with Fed rhetoric & NFP on tap, but I'm more interested in $JPY crosses for now. A weekly chart of AUD/JPY:
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@DavidJSong
David Song
5 years
. @PeterMehlos Think the weakness we're seeing in #gold is another theme to keep an eye on. Breaks to fresh monthly-high ($1291) but closes near the low. Not looking good as a head-and-shoulders still looks in play.
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@DavidJSong
David Song
7 months
Join me for the Weekly Fundamental Market Outlook webinar in 15min (10am ET). Will cover the major event risks on tap for the days ahead and discuss key developments in FX markets especially in #JPY pairs.
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@DavidJSong
David Song
8 years
I wonder what's going on at the BoE right now. I would imagine Mark Carney is getting a ton of phone calls.
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@DavidJSong
David Song
5 years
$AUDUSD bouncing back from the session low (0.6748) but can't say it's from the Caixin China PMI Services as the index slips to 51.6 from 52.0 in June. Watching the RSI as it dips into oversold territory.
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@DavidJSong
David Song
6 months
Join me for the Weekly Fundamental Market Outlook webinar in 10min (10am ET). Will do a brief overview of the BoC rate decision along with a preview of the ECB meeting on tap for tomorrow. Will also discuss the key event risks on tap for the days ahead as the opening range for
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@DavidJSong
David Song
7 months
#USDJPY Post-US CPI Breakout Fails to Push RSI into Overbought Zone
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@DavidJSong
David Song
1 year
Anyone else watching $GBPJPY as it registers a fresh yearly high (177.15)? January 2016 high (177.38) in sight as the RSI sits in overbought territory, with a break/close above 177.20 (23.6% Fibonacci retracement) opening up the 179.70 (61.8% Fibonacci extension).
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@DavidJSong
David Song
1 year
Gold Price Rebound Brings Test of 50-Day SMA
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@DavidJSong
David Song
2 months
US Dollar Forecast: #EURUSD Rally Fizzles Ahead of March High
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@DavidJSong
David Song
9 years
Despite bets for a Sept. liftoff, the Fed Minutes sound pretty dovish given concerns surrounding China, weak oil prices and strong USD.
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@DavidJSong
David Song
1 year
AUDUSD forecast: Death Cross formation pending
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@DavidJSong
David Song
2 months
US Retail Sales
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@DavidJSong
David Song
8 months
US Dollar Forecast: #USDCAD Recovers Ahead of BoC Rate Decision
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@DavidJSong
David Song
5 years
Wondering why ECB's Draghi is delivering the dovish comments ahead of the #FOMC rate decision...
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@DavidJSong
David Song
5 months
US Dollar Forecast: #EURUSD Bounces Back Ahead of February Low
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@DavidJSong
David Song
4 years
Quick heads up that today's webinar is canceled.
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@DavidJSong
David Song
1 month
Kicking off the Weekly Fundamental Market Outlook webinar in 15min (10am ET). Will do a preview for the #Fed and #BoE rate decisions. Will also discuss key developments in FX markets amid the reaction to the #BoJ rate-hike. Register here: Streaming
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@DavidJSong
David Song
6 months
US Dollar Forecast: #USDCAD No Longer Trades in Ascending Channel
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@DavidJSong
David Song
9 years
But at the end of the day, seems as though the Fed is looking at a more standardized approach for 2016 as it stays on course to normalize.
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@DavidJSong
David Song
2 months
Kicking off the Weekly Fundamental Market Outlook webinar in 15min (10am ET). Join me for a preview of the #ECB rate decision on tap for tomorrow. Will also discuss key developments in FX markets ahead of the #BoC meeting next week. Register here:
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@DavidJSong
David Song
12 days
US Dollar Forecast: #GBPUSD Susceptible to RSI Sell Signal
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@DavidJSong
David Song
11 months
$Gold continues to approach the yearly low ($$1805) as it falls for the six day, while the RSI sits in oversold territory for the first time this year. A close below the $1837 (38.2% Fib retracement) to $1843 (50% Fib retracement) region in $XAUUSD opens up $1812 (61.8% Fib
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@DavidJSong
David Song
2 months
Kicking off the Weekly Fundamental Market Outlook webinar in 15min (10am ET). Will discuss key developments in FX markets ahead of the #Fed rate decision next week. Register here: Streaming here:
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@DavidJSong
David Song
1 year
Gold price forecast: RSI flirts with overbought territory
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@DavidJSong
David Song
11 months
Starting the Weekly Fundamental Market Outlook webinar in 15min (10am ET). Will discuss the BoC rate decision along with a preview for the ECB meeting. Will also cover key developments in FX markets. Register here:
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@DavidJSong
David Song
4 months
US Dollar Forecast: #GBPUSD Eyes 50-Day SMA Ahead of US CPI
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@DavidJSong
David Song
5 years
Wondering if we're going to see a quick rip and dip in $AUDUSD if the #RBA delivers a dovish hold. (Keeps OCR at 1.50% but offers a dovish forward-guidance for monetary policy).
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@DavidJSong
David Song
3 months
US CPI: 'The index for airline fares fell 3.6 percent in May, following a 0.8-percent decrease in April. Over the month, the new vehicles index fell 0.5 percent, the communication index decreased 0.3 percent, and the recreation index declined 0.2 percent. The indexes for
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@DavidJSong
David Song
2 years
USD/CAD struggles to test January high ahead of BoC rate decision
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@DavidJSong
David Song
2 years
#Crude #oil falling back towards the 50-Day SMA ($77.77) after struggling to test the weekly high ($80.49). Could see #crude largely track the negative slope in the moving average if it fails to defend the weekly low ($76.55).
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@DavidJSong
David Song
6 years
$AUDJPY looks poised for a larger rebound as it clears last week's high (81.97), with the RSI flashing a bullish trigger. 83.00 on the radar.
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@DavidJSong
David Song
7 months
Join me for the Weekly Fundamental Market Outlook webinar in 15min (10am ET). Will cover the major event risks on tap for the coming days along with an overview of recent developments in FX markets.
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@DavidJSong
David Song
2 years
$USDCAD could see form a bullish outside day if it closes near/at the high. Looks as though the 1.3310 (50% retracement) area is acting as support ahead of the #FOMC rate decision with a move above last week's high (1.3428) exposing the 50-Day SMA (1.3504).
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@DavidJSong
David Song
1 year
Why not just raise today if #Fed officials think US rates need to go higher...
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@DavidJSong
David Song
2 years
$USDJPY snaps the recent series of higher highs and lows as it continues to pull back from the weekly high (131.12). Continues to reflect a downward trend which largely aligns with the negative slope in the 50-Day SMA (134.25).
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@DavidJSong
David Song
7 years
$Gold prices looking a bit heavy up here esp. as the RSI struggles to hold above 70. My first downside region of interest comes in around $1298-$1302, but longer-term outlook remains constructive. Here's the forecast.
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@DavidJSong
David Song
7 months
US Dollar Forecast: #USDJPY Rate Eyes Monthly High
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@DavidJSong
David Song
5 months
Join me for the Weekly Fundamental Market Outlook webinar in 10min (10am ET). Will cover the key event risks on tap for the coming days as attention turns to the BoJ rate decision and the update to the US PCE Price Index. Will also discuss recent developments in FX markets
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@DavidJSong
David Song
5 years
. @PeterMehlos First oversold $RSI signal for #oil in 2019. Wonder what OPEC is going to announce at their next meeting. Until then, I'll be watching the oscillator as it pushes deeper into oversold territory.
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@DavidJSong
David Song
1 month
Kicking off the Weekly Fundamental Market Outlook webinar in 10min (10am ET). Will look at the key event risks for the coming days as well as major developments in FX markets amid the recent comments from the BoJ. Register here: Streaming here:
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@DavidJSong
David Song
7 years
$Gold snaps the weekly range following NFP. Need a close below 1328 to open up the 1312 to 1315 region.
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@DavidJSong
David Song
1 year
EUR/USD Post-ECB Rally Puts April High in Sight
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@DavidJSong
David Song
6 years
#Crude #Oil Recovery Stalls as #OPEC + Alliance Comes Under Scrutiny
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@DavidJSong
David Song
10 years
Oil coming up against a key level. Waiting to see if the RSI will dip back into oversold territory. http://t.co/1euqCktCOV
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@DavidJSong
David Song
1 year
NZD/USD forecast: RBNZ rate decision in focus
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@DavidJSong
David Song
6 years
FOMC Minutes: ' Many participants observed that if uncertainty abated, the Committee would need to reassess the characterization of monetary policy as "patient" and might then use different statement language.'
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@DavidJSong
David Song
6 years
FOMC Minutes: 'Many participants suggested that it was not yet clear what adjustments to the target range for the federal funds rate may be appropriate later this year;'
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@DavidJSong
David Song
7 years
My take: Fed will stay on course to deliver 3 rate-hikes in 2018 as 'market-based measures of inflation compensation have increased in recent months.' Wondering if markets will pay more attention to Average Hourly Earnings rather than headline NFP on Friday.
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@DavidJSong
David Song
10 months
Euro Forecast: EUR/USD Clears October Range on Soft US NFP Report
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@DavidJSong
David Song
1 year
AUD/USD Faces Australia Inflation Data Ahead of Fed Rate Decision
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@DavidJSong
David Song
5 years
RBA: As a result, GDP growth in the March quarter is likely to be noticeably weaker than earlier expected.
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@DavidJSong
David Song
2 years
EUR/USD tests 50-Day SMA for first time since November
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@DavidJSong
David Song
1 year
Gold Price Holds Above 50-Day SMA Ahead of Fed Rate Decision
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@DavidJSong
David Song
1 year
EUR/USD forecast: April 2022 high offers resistance
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@DavidJSong
David Song
1 year
AUD/USD struggles to push above 200-Day SMA ahead of RBA
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@DavidJSong
David Song
4 months
US Dollar Forecast: #EURUSD Negates Bear Flag Formation
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@DavidJSong
David Song
6 months
Fed's Powell: 'At this meeting we discussed issues related to slowing the pace of decline in our securities holdings. While we did not make any decisions today on this, the general sense of the committee is that it will be appropriate to slow the pace of run-off fairly soon.'
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@DavidJSong
David Song
5 months
US Dollar Forecast: #GBPUSD Clears March Low Ahead of US NFP Report
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@DavidJSong
David Song
7 months
FOMC Minutes: 'Participants observed that the continuing process of reducing the size of the Federal Reserve's balance sheet was an important part of the Committee's overall approach to achieving its macroeconomic objectives and that balance sheet runoff had so far proceeded
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@DavidJSong
David Song
6 years
Easier to see on the weekly but looks like $Copper is trying to break/close below support after carving a double-top in the first-half of 2018. Should be interesting to see how it closes the week following the U.S. holiday.
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@DavidJSong
David Song
7 months
Australian Dollar Forecast: AUD/USD Reverses Ahead of Monthly High
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@DavidJSong
David Song
9 months
US Dollar Forecast: #GBPUSD Pulls Back from Channel Resistance
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@DavidJSong
David Song
5 years
The uptick in Australia Unemployment to 5.2% from a revised 5.1% was accompanied by an uptick in the labor force participation rate, suggesting discouraged workers are returning to the labor force. Wonder if that will be enough for the #RBA to avoid cutting the OCR.
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@DavidJSong
David Song
5 months
US Dollar Forecast: #AUDUSD Attempts to Defend March Low
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@DavidJSong
David Song
9 years
FOMC Minutes sounding more cautious this time around. Noting oil, USD to hold down inflation for longer.
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@DavidJSong
David Song
4 months
US Dollar Forecast: #USDJPY Extends Rebound from 50-Day SMA
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@DavidJSong
David Song
2 years
#gold $XAUUSD tests the 50-Day SMA ($1855) for the first time since November as it tags a fresh monthly low ($1853). The advance from the January low ($1824) may continue to unravel if #gold no longer responds to the positive slope in the moving average.
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@DavidJSong
David Song
2 years
USD/CAD 2022 high remains on radar as RSI holds in overbought zone
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@DavidJSong
David Song
3 months
US Dollar Forecast: #EURUSD Bounces Back Ahead of Monthly Low
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@DavidJSong
David Song
8 years
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@DavidJSong
David Song
5 years
Not sure if I would infer that the #RBA is all about employment now. I think all the major CB's are puzzled that inflation remains low even though unemployment is low. Seems like CB's are hoping wage growth will pickup and drive inflation, but that hasn't been the story.
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@DavidJSong
David Song
28 days
#NZDUSD Rate Outlook Hinges on RBNZ Interest Rate Decision
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@DavidJSong
David Song
8 months
#GBPUSD Forecast: Ascending Channel Remains Intact Ahead of UK CPI
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@DavidJSong
David Song
5 years
Seeing chatter about an #RBA rate-cut. Hard to imagine Governor Lowe & Co. moving away from the wait-and-see approach ahead of the election IMO. For #AUDUSD , could be another failed attempt to close below the Fib. overlap around 0.6950 (61.8% expansion).
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@DavidJSong
David Song
9 months
US Dollar Forecast: #USDJPY Vulnerable Ahead of NFP Report
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@DavidJSong
David Song
4 months
US Dollar Forecast: #USDCAD Ascending Channel Remains Intact
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@DavidJSong
David Song
7 years
FOMC: Reiterates 'the Committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate.'
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