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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • $EURCAD has continued to strengthen today, rising from below 1.5100 by over 50 pips to currently trade above 1.5150, at a six week high. $EUR $CAD
  • After rising back above the 1.60% level to a high around 1.63% earlier today, US 10yr Treasury yields have moved back lower. They are now trading around an intraday low of 1.56%. $USD
  • Discord has walked away from sale talks with $MSFT now eyeing potential IPO
  • here we go, webinar starting right now 1) USD Q2 Weakness 2) Gold brewing bullish potential? 3) Stonks through initial earnings outlays
  • The Euro has slipped to an intraday low amidst the German Greens surging to a lead over Merkel's CDU in a new poll. $EUR $USD
  • $USDCAD has strengthened today, rising to a one week high near the 1.2600 level. The Canadian Dollar has suffered amidst a drop in oil prices and extended travel restrictions. $USD $CAD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.55%, while traders in Germany 30 are at opposite extremes with 80.61%. See the summary chart below and full details and charts on DailyFX:
  • In line with the general risk-off sentiment, oil prices have come under notable selling pressure with both Brent and WTI crude futures falling 2-2.5%. Get your #crudeoil market update from @JMcQueenFX here:
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Gold: 0.49% Silver: 0.42% Oil - US Crude: -1.41% View the performance of all markets via
  • Forex Update: As of 16:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.08% 🇯🇵JPY: 0.07% 🇪🇺EUR: 0.04% 🇦🇺AUD: -0.17% 🇬🇧GBP: -0.23% 🇨🇦CAD: -0.30% View the performance of all markets via
Guest Commentary: China/Aussie Correlation Has Lost Its Luster

Guest Commentary: China/Aussie Correlation Has Lost Its Luster

Yohay Elam, ForexCrunch,

A long-standing correlation between China’s economy and the Australian dollar has noticeably weakened, requiring timely adaptations on the part of AUD/USD traders.

The Australian dollar (AUD) is often seen as a proxy for the Chinese economy. China is Australia’s largest trade partner, and any shifts in Chinese demand for commodities—or changes in the Chinese economy in general—are commonly followed by moves in the Australian dollar. However, this has changed of late.

The Australian dollar is now sliding lower from the high range and in a downtrend channel despite favorable recent economic data out of China. (See latest AUD/USD technical analysis on Forex Crunch.)

The purchasing managers’ indexes (PMIs) from the economic giant point to stronger growth, a trend seen in both the official data and the independent Markit/HSBC figure. In addition, profits of Chinese industrial enterprises surged 17.3% year over year. Industrial profits in China may rise up to 30% in 2013, according to a Bloomberg News survey.

However, in the land down under, PMI data hasn’t been upbeat and remains under the 50-point mark separating growth and contraction, according to the Australian Industry Group (AIG).

Also, the Australian housing sector is struggling. Recent Australian Bureau of Statistics (ABS) figures show a drop of 10.3% in home loan commitments for new dwellings in November. Developers now offer various discounts and incentives, ranging from 5,000 to 126,000 Australian dollars. For example, Devine offers mortgage repayments for up to a year under specific conditions. Carlisle Homes offers a 30,000-dollar discount on specific homes.

It is important to note that these offers do not count as price reductions, a move that could aggravate previous homebuyers and also cause banking-related concerns. In any case, the state of the housing sector in Australia isn’t promising, and even these special offers are not stimulating demand at the moment.

The weakness of AUD/USD is also related to the improving US economy, but by and large, the impact of Chinese data on the Australian dollar seems to be weakening, while the impact of Australia’s economy on the value of its own currency is on the rise.

Alsoread:Weekly AUD/USD forecast on Forex Crunch

By Yohay Elam of Forex Crunch

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