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.

Free Trading Guides
EUR/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
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bearish
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
Mixed
More View more
Real Time News
  • Análisis $EURMXN: no hay tregua para el peso mexicano, se rinde ante el impacto del #coronavirus #eur #mxn #trading https://t.co/I5gxPjSnwg
  • 🇺🇸 USD MBA Mortgage Applications (APR 3), Actual: -17.9% Expected: N/A Previous: 15.3% https://www.dailyfx.com/economic-calendar#2020-04-08
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.72%, while traders in US 500 are at opposite extremes with 66.89%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/VHVFuCpuTs
  • Heads Up:🇺🇸 USD MBA Mortgage Applications (APR 3) due at 11:00 GMT (15min), Actual: N/A Expected: N/A Previous: 15.3% https://www.dailyfx.com/economic-calendar#2020-04-08
  • What are the six different types of stocks every trader should know? Find out from @WVenketas here: https://t.co/yO3JalkqUU https://t.co/0VY3DYaFdS
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 3.51% Silver: 0.60% Gold: 0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qsxLh4FDpB
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: -0.02% 🇯🇵JPY: -0.09% 🇨🇭CHF: -0.23% 🇦🇺AUD: -0.24% 🇪🇺EUR: -0.28% 🇳🇿NZD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0VwHnTmEQU
  • How to Read a Candlestick Chart...#trading #candlesticks #analysis @DailyFX https://t.co/vQuWEoaYz8
  • USD/MXN Price Forecast: A Risk of a Possible Reversal- USD vs Mexican Peso More details in the link below: https://www.dailyfx.com/forex/technical/article/special_report/2020/04/08/USDMXN-Price-Forecast-A-Risk-of-a-Possible-Reversal-USD-vs-Mexican-Peso-MK.html?CHID=9&QPID=917714 https://t.co/Q8bfVUbgnr
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.26% US 500: -0.43% Germany 30: -1.12% France 40: -1.71% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/hq1dYt2NIv
Australian Dollar Rides Out Broadly Stronger China Trade Data

Australian Dollar Rides Out Broadly Stronger China Trade Data

2018-04-13 03:00:00
David Cottle, Analyst
Share:

Talking Points:

  • Chinese trade data came in broadly stronger
  • However market reaction was muted
  • The trade spat with Washington may have rendered these numbers too historic to be of interest

Find out what the #1 mistake that traders make is and how you can fix it!

The Australian Dollar showed little reaction to a broadly stronger set of Chinese trader figures Friday, perhaps because the ongoing tariff spat between Washington and Beijing has rendered them less useful as a likely gauge to the future.

The overall trade balance for the first quarter came in at CNY326.18 billion (US$51.9 billion), hugely ahead of the CNY 181 billion expected. Imports soared by 11.7%, compared to the same period last year while exports’ 7.4% rise was below the previous quarter’s gain. These look like quite strong figures for the first quarter, with little obvious trade disruption evident from the long Lunar New Year break.

However, that trade dispute with the US could see these data series weaken into the next quarter, absent a resolution which seems elusive at present. It is notable that China’s trade surplus with the US increased by 19.4%.

In US Dollar terms exports rose by 14.8%, while imports gained 8.9%. for a total balance of $141.6 billion.

The Australian Dollar sometimes plays the role of liquid China-market proxy but did not obviously do so on Friday morning in the wake of these figures. The currency remains in thrall to overall global risk appetite and the data impact may have been blunted not only by the China/US trade spat but also by a cooling property market which could see Chinese demand for imported raw materials fade as the year goes on.

Australian Dollar Rides Out Broadly Stronger China Trade Data

On its broader, daily chart, AUD/USD is taking a shot at the top of the dominant downtrend channel which has marked trade for most of this year. A broad revival in global risk appetite has taken the currency higher, but the ongoing broad interest rate differential in favour of the US Dollar continues to hang over the Aussie.

Australian Dollar Rides Out Broadly Stronger China Trade Data

The US Federal Reserve remains firmly in monetary tightening mode while the Reserve Bank of Australia is not expected to lift its own base rate from its 1.50% record lows until well into 2019.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES

News & Analysis at your fingertips.