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
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
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
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
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • #Oil prices saw a reprieve to the recent selling pressure but remain at risk while below downtrend resistance. Here are the levels that matter on the #WTI technical chart. Get your #commodities update from @MBForex here: https://t.co/CcXsF3JCMH https://t.co/RUmS1cX52v
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/boEI8RuQdC
  • The growth-linked New Zealand Dollar may rise on the upcoming #RBNZ rate decision following rosy economic data. However, downside potential in the S&P 500 could offset $NZDUSD gains. Get your #currencies update from @ddubrovskyFX here: https://t.co/LfCe6C6G3P https://t.co/kUeBxxeaEf
  • It was a quiet week in Aussie as $AUDUSD put in its second consecutive week of indecision. But taking a more granular look highlights the potential for a reversal scenario. Get your #currencies update from @JStanleyFX here: https://t.co/PPK20nubAf https://t.co/0nfmRRFNnz
  • The S&P 500 pushed the market's comfort with a head-and-shoulders pattern through Friday's close. What should we look for in technical patterns, overlapping fundamental tides and speculative positioning for the likes of $EURUSD next week? https://www.dailyfx.com/forex/video/daily_news_report/2020/09/19/EURUSD-Pressure-Building-while-Anxious-Traders-Weigh-Did-SP-500-Break.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/lgVJVwi8th
  • Sterling remains trapped by overarching fundamentals drivers and both $GBPUSD and $EURGBP are going to have to wait until the Brexit dust settles. Get your #currencies update from @nickcawley1 here: https://t.co/vF1K1cy0nd https://t.co/NSA7qiQihc
  • Key levels in forex tend to draw attention to traders in the market. These are psychological prices which tie into the human psyche and way of thinking. Learn about psychological levels here:https://t.co/1oygcFMFNs https://t.co/d9EmTOHyTv
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true.Simplify your trading strategy with these four indicators here:https://t.co/A4dqGMPylo https://t.co/xqbUxwWgTZ
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/Gi8LHCT5sB
  • The AB=CD pattern is simple once you know how to spot it and draw the proper Fibonacci retracements. Make your trading strategy as simple as ABCD here: https://t.co/AKmlmaAZBS https://t.co/FFmRYyx4ou
Aussie Dollar Edges Higher on China GDP, Yen May Rise on US Data

Aussie Dollar Edges Higher on China GDP, Yen May Rise on US Data

2014-10-21 03:31:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Aussie Dollar Edges Higher on Modestly Better Than Expected Chinese GDP
  • US Dollar, Yen May Rise if Upbeat Home Sales Data Fuels Fed Rates Outlook
  • PlaceEconomic Releases Directly on Your Charts with the DailyFX News App

The Australian Dollar narrowly outperformed in overnight trade, rising as much as 0.3 percent on average against its leading counterparts, following a narrowly better-than-expected Chinese GDP report. Output grew at a year-on-year rate of 7.3 percent compared with economists’ expectations of 7.2 percent. The outcome still amounted to the lowest reading since the post-crisis trough in the first quarter of 2009, painting a picture that is hardly encouraging as markets fret about slowing global performance.

A quiet economic calendar in European trading hours is likely to see traders looking ahead to US news-flow, where September’s Existing Home Sales data is in focus. A print at 5.10 million transactions is expected, marking a 1 percent increase from the prior month. US data outcomes have cautiously improved relative to expectations in recent weeks, which may suggest analysts are underestimating the vigor of the North American behemoth and opening the door for an upside surprise.

Such an outcome may help rebuild Fed rate hike expectations, boosting the US Dollar. Renewed bets on the relatively sooner onset of Fed tightening against a backdrop of swelling global slowdown fears may likewise undermine risk appetite amid fears that US growth will be insufficient to offset downturns in the Eurozone and China. That might put risk-geared currencies under pressure while boosting safety-linked alternatives like the Japanese Yen.

New to FX? START HERE!

Asia Session

GMT

CCY

EVENT

ACT

EXP

PREV

21:45

NZD

Net Migration s.a. (SEP)

4670

-

4720

22:30

AUD

ANZ Roy Morgan Weekly Consumer Conf

111.6

-

113.8

0:30

AUD

RBA Releases Minutes from Oct. Meeting

-

-

-

2:00

CNY

GDP SA (QoQ) (3Q)

1.9%

1.8%

2.0%

2:00

CNY

GDP (YoY) (3Q)

7.3%

7.2%

7.5%

2:00

CNY

GDP YTD (YoY) (3Q)

7.4%

7.4%

7.4%

2:00

CNY

Industrial Production (YoY) (SEP)

8.0%

7.5%

6.9%

2:00

CNY

Industrial Production YTD (YoY) (SEP)

8.5%

8.4%

8.5%

2:00

CNY

Retail Sales (YoY) (SEP)

11.6%

11.7%

11.9%

2:00

CNY

Retail Sales YTD (YoY) (SEP)

12.0%

12.1%

12.1%

2:00

CNY

Fixed Assets Ex Rural YTD (YoY) (SEP)

16.1%

16.3%

16.5%

2:00

NZD

Credit Card Spending (MoM) (SEP)

0.2%

-

0.7%

2:00

NZD

Credit Card Spending (YoY) (SEP)

4.4%

-

4.2%

4:30

JPY

All Industry Activity Index (MoM) (AUG)

-0.4%

-0.2%

5:00

JPY

Supermarket Sales (YoY) (SEP)

-

-0.1%

European Session

GMT

CCY

EVENT

EXP

PREV

IMPACT

6:00

CHF

Trade Balance (SFr) (SEP)

2.49B

1.33B

Medium

6:00

CHF

Exports (MoM) (SEP)

-

-0.7%

Low

6:00

CHF

Imports (MoM) (SEP)

-

6.4%

Low

7:00

CHF

Money Supply M3 (YoY) (SEP)

-

3.4%

Low

8:30

GBP

Public Sector Net Borrowing (£) (SEP)

9.4B

10.9B

Low

8:30

GBP

Public Finances (PSNCR) (£) (SEP)

-

1.6B

Low

8:30

GBP

PSNB ex Banking Groups (SEP)

10.1B

11.6B

Low

8:30

GBP

Central Government NCR (SEP)

-

3.1B

Low

9:00

EUR

Eurozone Gov't Debt/GDP Ratio (2013)

-

92.6%

Low

Critical Levels

CCY

Supp 3

Supp 2

Supp 1

Pivot Point

Res 1

Res 2

Res 3

EURUSD

1.2611

1.2697

1.2749

1.2783

1.2835

1.2869

1.2955

GBPUSD

1.5943

1.6042

1.6104

1.6141

1.6203

1.6240

1.6339

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

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

DISCLOSURES