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.

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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bearish
More View more
Real Time News
  • Fed's Daly: - Inflation is unlikely to rise unnecessarily - Fed has not reached point in time where it would consider tapering
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 1.95% Gold: 1.76% Oil - US Crude: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rdHJz8jeUV
  • FTSE gained some momentum in recent trade. Test of big resistance over 7000 is important. Get your #FTSE market update from @PaulRobinsonFX here:https://t.co/nHvRtdyQ88 https://t.co/oR6dv1Nh4G
  • Fed's Daly: - Both the inflation and wage expectations are out of reach - We remain far from both inflation and employment targets - Monetary policy is a blunt instrument; other instruments are needed to maintain financial stability
  • Fed's Logan: - LIBOR transformation has made substantial strides - Aim of loosening counterparty rules is to make it easier for small money market funds to enter the market
  • Australian #Dollar Outlook: $AUDUSD Rips into April- #Aussie Breakout Levels - https://t.co/Zha7oaH2qQ https://t.co/dc93LMUuX4
  • Fed's Logan: - Fed intends to loosen counterparty conditions for overnight reverse repo facility counterparties - Any changes to the makeup of treasury purchases would be modest and technical adjustments to match the outstanding debt
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.92%, while traders in France 40 are at opposite extremes with 78.08%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/hMrnFoyKoF
  • Fed's Daly: - Frequency of Fed's market interventions is concerning - Fed market interventions are costly
  • Fed's Daly: - It is important to keep financial infrastructure secure and sound - The growth of financial tech is related to potential risks
AUD Cautiously Eyes Chinese Data Ahead of Sino-US Trade Talks

AUD Cautiously Eyes Chinese Data Ahead of Sino-US Trade Talks

Dimitri Zabelin, Analyst

Australian Dollar, New Zealand Dollar, Chinese Economy Outlook, Coronavirus – TALKING POINTS

  • Australian, New Zealand Dollars recoiled with crude oil prices and stocks
  • Markets eyeing upcoming Sino-US trade talks as tensions continue to swell
  • AUD/JPY uptrend could break as pair approach stubborn inflection range

Stock markets had a mixed day with the Dow Jones and S&P 500 index closing 0.29% and 0.20% respectively, while the Nasdaq clocked in a modest 0.27 gain. The energy sub-categories in the former two indices led the way in losses, specifically under “Oil & Gas Equipment & Services”. Some notable firms to note that posted losses for the day were Haliburton, (HAL) and Baker Hughes Co (BKR).

Crude oil was also down for the day, but the commodity’s decline failed to drag the petroleum-linked Norwegian Krone and Swedish Krona with it. The latter in particular got a tailwind after Nordic economists said the economic contraction may not be as severe as they had anticipated. The Euro rose after Washington agreed to not impose tariffs on $7.5b of European goods amid the legal dispute of illegal subsidies to Airbus.

The commodity-linked Australian and New Zealand Dollars – especially the latter – were the session’s biggest losers while the Greenback traded mixed. Early on in the day, better-than-expected US employment data showed initial jobless claims at under 1 million before sentiment turned sour and reversed the day’s gains. Uncertainty about macro-fundamental risks like US-China relations may be slowing the rise in equity markets.

Friday’s Asia-Pacific Trading Session

NZD and AUD may curb their losses if Chinese industrial and retail sales data show better-than-expected figures and boost regional risk appetite. Having said that, traders may not be too keen on committing capital ahead of US-China trade talks in August. A myriad of policy issues ranging from tech to foreign policy approaches to Iran may ooze their way into the discussions and cast a dark shadow over future relations.

AUD/JPY Outlook

Since bottoming out in March, AUD/JPY has risen along a multi-month support channel, though its strength is being tested as the pair brush up against a stubborn resistance range between 75.925 and 76.320. Failing to clear the multi-layered ceiling would lead to an invalidation of rising support, and this break could gather bearish momentum and drag the lower pair. The next 48 hours will be critical.

AUD/JPY – Daily Chart

Chart showing AUD/JPY

AUD/JPY chart created using TradingView

--- Written by Dimitri Zabelin, Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitri on Twitter

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

DISCLOSURES