Graphic Rewind: US Dollar Gaps Higher on Weak Chinese Exports
A look back at the past 24 hours of Forex trading using movements in the US Dollar Index:
US Dollar Daily
Add the Trading Session Hours Indicator to your own Forex charts at FXCM Apps.
The Dow Jones FXCM US Dollar Index gapped five points higher on the Sunday evening open after Chinese trade data disappointed expectations.
Chinese exports declined 18.1% on a yearly basis in February, according to Saturday’s release. The exports decline disappointed expectations for a 7.5% annual rise in exports, and the trade balance fell to -$22.98 billion from a $31.87 billion surplus in January. AUD/USD posted a 25 pip weekend gap following the disappointing trade data.
The US Dollar continued higher through Monday’s trading despite a fairly quiet day. Japanese GDP was reported 0.2% higher in Q4 as expected, and USD/JPY did not significantly react to the news release.
Want to trade with proprietary strategies developed by FXCM? Find out how here.
Charts created by Benjamin Spier using Marketscope 2.0
-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to firstname.lastname@example.org .
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.