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
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
Bullish
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
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
More View more
Real Time News
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • Iranian Ambassador to China: "The US' unilateral sanctions on Iran will turn to genocide against Iran if the international community succumbs to US bullying" - Global Times That is some intense wording. Last thing markets need now is escalated geopolitical tensions.
  • China sets the Yuan reference rate vs #USD at 7.0477 (BBG)
  • South Korea coronavirus death toll rises by 6 to 158 following reports that the country had confirmed 78 more additional cases, bringing the total to 9,661 (BBG) #USDKRW #covid19
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/skDq5iLemR
  • Singapore MAS eases policy and reduced the currency band slope to zero. (BBG) Learn more about how to trade #USDSGD here - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/03/The-Singapore-Dollar-and-MAS-What-is-SGD-and-How-to-Trade-it.html
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/2:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/x0FHuNIsJ5
  • RT @JPan_IG: SINGAPORE CENBANK SAYS MAS WILL ADOPT A ZERO PERCENT PER ANNUM RATE OF APPRECIATION OF THE POLICY BAND STARTING AT THE PREVAIL…
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/yF133btXFd https://t.co/rUp1G9zzxj
  • #SPX futures down over 1.5% too, echoing risk-off bias https://t.co/Z0n4L156tl
Australian, NZ Dollars Dip Slightly on Higher-Than-Expected Chinese CPI

Australian, NZ Dollars Dip Slightly on Higher-Than-Expected Chinese CPI

2012-01-12 02:05:00
Lujia Lin,
Share:

THE TAKEAWAY: Chinese inflation in December falls to 4.1 percent > Figure slightly higher than expected, dampens some of the bias in favor of Chinese monetary easing > Aussie, Kiwi slightly weaker

Australian_NZ_Dollars_Dip_Slightly_on_Higher-Than-Expected_Chinese_CPI_body_Picture_5.png, Australian, NZ Dollars Dip Slightly on Higher-Than-Expected Chinese CPI

Chart generated using Strategy Trader

The Australian and New Zealand Dollars weakened slightly versus the US Dollar after data released on Wednesday revealed Chinese consumer prices a touch higher than expected in December. The Aussie traded 10 pips lower at 1.0286 against its US counterpart, while the Kiwi dropped from 79.62 to 79.54 US cents. Both currencies rebounded shortly after the data print.

The change in CPI in December was 4.1 percent year-over-year, slightly lower than November’s 4.2 percent rate, the lowest since the inflation gauge peaked at 6.5 percent in July. However, the figure was higher than the 4.0 percent consensus estimate. As in previous months, the main driver of the increase was food prices, which rose 9.1 percent. Producer prices rose 1.7 percent year-over-year.

While the data showed that inflation in China continued to trend lower, the smaller than expected drop in the inflation rate was enough to dampen expectations of significant further monetary easing in the world’s second-largest economy, a factor that weighed on the two South Pacific currencies. This, coupled with improving Chinese economic data – from manufacturing to the export sector – could lead Chinese policymakers to adopt a “wait-and-see” approach following November’s reserve-requirement cut. In the meantime, markets will be focused on the RBNZ rate decision on January 26, the EU leaders’ summit on January 30, and the RBA rate decision on February 1 for further guidance on the Aussie and Kiwi.

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

DISCLOSURES

News & Analysis at your fingertips.