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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
AUDUSD Under $0.9000 For First Time Since September 2010

AUDUSD Under $0.9000 For First Time Since September 2010

Kevin Jin,

THE TAKEAWAY: AUDUSD hits an intraday low of $0.8997, the lowest level since September 2010

Last night, Chinese Finance Minister Lou Jiwei stated, “We don’t think 6.5% or 7.0% will be a big problem.” This spurs speculation that the Chinese GDP release on July 15 (02:00 GMT) may come in poorly amidst other recent letdowns in Chinese data. This week, China released weak June export numbers: -3.1% y/y actual; +3.7% Bloomberg News survey expected.

AUDUSD 5-minute Chart: July 12, 2013

AUDUSD_Under_0.9000_Since_September_2010_body_Picture_1.png, AUDUSD Under $0.9000 For First Time Since September 2010

Charts Created using Marketscopeprepared by Kevin Jin

While Lou’s comments raise worries, the AUDUSD did not drop immediately. The majority of the decline occurred modestly into the London trading session, before New York Open. The intraday low of $0.8997 marks the lowest level on the AUDUSD since September 2010.

--- Written by Kevin Jin, DailyFX Research

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