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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bullish
Low
High
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
GBP/USD
Mixed
Low
High
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
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.29% 🇳🇿NZD: 0.23% 🇨🇦CAD: 0.14% 🇬🇧GBP: 0.08% 🇪🇺EUR: 0.06% 🇨🇭CHF: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/RkEHEPgNqB
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.46%, while traders in US 500 are at opposite extremes with 77.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hx8j3J2Vyu
  • 🇨🇳 Caixin Composite PMI (JUL) Actual: 54.5 Previous: 55.7 https://www.dailyfx.com/economic-calendar#2020-08-05
  • 🇨🇳 Caixin Services PMI (JUL) Actual: 54.1 Previous: 58.4 https://www.dailyfx.com/economic-calendar#2020-08-05
  • 🇦🇺 Investment Lending for Homes (JUN) Actual: 8.1% Previous: -15.6% https://www.dailyfx.com/economic-calendar#2020-08-05
  • 🇦🇺 Home Loans MoM (JUN) Actual: 5.5% Previous: -10.2% https://www.dailyfx.com/economic-calendar#2020-08-05
  • Heads Up:🇨🇳 Caixin Services PMI (JUL) due at 01:45 GMT (15min) Previous: 58.4 https://www.dailyfx.com/economic-calendar#2020-08-05
  • Heads Up:🇨🇳 Caixin Composite PMI (JUL) due at 01:45 GMT (15min) Previous: 55.7 https://www.dailyfx.com/economic-calendar#2020-08-05
  • Net speculative $GBPUSD positioning among retail FX traders (via the IGCS) has dropped to its heaviest short view in years. Scale of short interest itself highest since mid-December https://www.dailyfx.com/sentiment?ref-author=Kicklighter&CHID=9&QPID=917719 https://t.co/sHvDlDNQSd
  • The US Dollar slide extended against the Singapore Dollar, Malaysian Ringgit, Philippine Peso and Indonesian Rupiah. Focus turns to the US jobs report, ASEAN GDP and the RBI. Get your market update from @ddubrovskyFX here:https://t.co/FLmFQCM0wl https://t.co/L8ZECWZGkV
Risk Aversion Led Wall Street Lower as USD Rose, ASX 200 May Fall

Risk Aversion Led Wall Street Lower as USD Rose, ASX 200 May Fall

2019-02-22 00:00:00
Daniel Dubrovsky, Analyst
Share:

Asia Pacific Market Open Talking Points

  • Port of Dalian Australia coal import ban appeared to trigger risk aversion
  • AUD/USD tumbled, soft US durable goods data added fuel to drop in stocks
  • Asia stocks may drop, ASX 200 at risk to fading upside moment on resistance

Just getting started trading the Australian Dollar? See our beginners’ guide for FX traders to learn how you can apply this in your strategy!

The Australian Dollar overwhelmingly underperformed against its major counterparts, as expected, on Thursday. The trigger for the selloff, despite an impressive local jobs report, stemmed from China. The Port of Dalian, a major harbor in Northeast China, indefinitely banned Australian coal imports to the tune of 12m tons this year. The pro-risk Aussie also got caught in the selloff in global stock indexes below.

China’s Dalian Port Bans Australian Coal Imports, Triggering Risk Aversion

Risk Aversion Led Wall Street Lower as USD Rose, ASX 200 May Fall

Chart Created in TradingView

The decline in equities (S&P 500 -0.35%) occurred despite reports that the US and China were drafting Memorandums of Understanding. They were also aiming to extend the deadline before the former imposes additional tariffs on the latter (March 1). NZD/USD declined while the anti-risk Japanese Yen generally appreciated.

US indexes accelerated their selloff in the aftermath of weaker-than-expected durable goods orders. This was a similar response to when soft retail sales data crossed the wires last week. The US Dollar benefited from risk aversion given its status as the world’s reserve currency. The Canadian Dollar weakened after BoC’s Governor Stephen Poloz said that the path to a neutral range is ‘highly uncertain’.

Friday’s Asia Pacific Trading Session

Bellwether S&P 500 futures are pointing a little bit lower heading into the final 24 hours of the week, suggesting that there may be more room for weakness in equities. The New Zealand Dollar may fall if credit card spending underperforms in January. Data out of the country has been tending to underperform as of late. Kiwi Dollar’s decline could also be amplified if stocks do indeed selloff in Asia.

ASX 200 Technical Analysis

The ASX 200 has made impressive performance to the upside in the aftermath of a bullish reversal pattern as expected. It is overshadowed by negative RSI divergence which indicates ebbing upside momentum. This is conveniently occurring at resistance (6140) which is the May 2018 highs. A turn lower places 5942.8 as near-term support.

ASX 200 Daily Chart

Risk Aversion Led Wall Street Lower as USD Rose, ASX 200 May Fall

US Trading Session Economic Events

Risk Aversion Led Wall Street Lower as USD Rose, ASX 200 May Fall

Asia Pacific Trading Session Economic Events

Risk Aversion Led Wall Street Lower as USD Rose, ASX 200 May Fall

** All times listed in GMT. See the full economic calendar here

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

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

DISCLOSURES

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.