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
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
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 1.57% France 40: 1.05% Germany 30: 0.91% Wall Street: 0.54% US 500: 0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/LWKi3vz4C3
  • Heads Up:🇺🇸 Markit Manufacturing PMI Flash (SEP) due at 13:45 GMT (15min) Expected: 53.1 Previous: 53.1 https://www.dailyfx.com/economic-calendar#2020-09-23
  • 'big things have small beginnings' $Gold pullback started to show bearish tendencies on the same day that it set an all-time-high. That daily bar on Aug 7 closed as bearish engulf - buyers have been on their back foot since. https://t.co/qpGkOJCL3J https://t.co/d3PPQ9vf5U
  • 🇺🇸 House Price Index MoM (JUL) Actual: 1% Previous: 1% https://www.dailyfx.com/economic-calendar#2020-09-23
  • 1900-1920 support no longer in $Gold down to the next spot on the chart - 1871 is 50% of June-August bullish move. That monthly chart though - working on a non-completed evening star formation (img 2) https://t.co/piWVcG2RBh https://t.co/KVhkJiM8Sx
  • 🇺🇸 House Price Index MoM (JUL) Actual: 1.0% Previous: 0.9% https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇺🇸 Fed Mester Speech due at 13:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-23
  • Heads Up:🇺🇸 House Price Index MoM (JUL) due at 13:00 GMT (15min) Previous: 0.9% https://www.dailyfx.com/economic-calendar#2020-09-23
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.27%, while traders in NZD/USD are at opposite extremes with 66.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/peklh4PMnX
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/lAFyv1gM0P https://t.co/fXShtfgera
Australian Dollar, Japanese Yen Look Past Soft Chinese PMI Data

Australian Dollar, Japanese Yen Look Past Soft Chinese PMI Data

2014-03-24 04:13:00
Benjamin Du, Ilya Spivak,
Share:

Talking points

  • HSBC ChinaManufacturing PMI 48.1 in March vs. 48.7 Expected
  • Yen Continued to Trade Lower as the Data Failed to Hurt Sentiment
  • Aussie Dollar Spiked Lower But Quickly Recovered After PMI Data

The Australian Dollar spiked briefly lower only to swiftly erase losses against the Japanese Yen after a disappointing set of China manufacturing figures. The HSBC China Manufacturing PMI gauge came in at 48.1 in March compared to a Bloomberg survey estimate of 48.7 and a print at 48.5 in February. The release marks the third consecutive month of contraction in the factory sector.HSBC economist Hongbin Qu said the result “suggests China’s growth momentum continued to slow down, with weakness broadly-based and domestic demand softening further.”

The Aussie’s resilience in the face of disappointing Chinese economic data likely reflects its relatively limited implications for near-term RBA monetary policy expectations. While a slowdown in China may hurt growth in Australia, which counts on the East Asian giant as its largest trading partner, the RBA’s recent preference for “a period of stability in the policy rates” hints this might not translate into easing, and thereby into currency depreciation. For its part, the Yen had been trading lower amid a recovery in risk appetite and continued to do so after the Chinese data crossed the wires.

Australian-Dollar-Japanese-Yen-Look-Past-Soft-Chinese-PMI-Data_body_Picture_7.png, Australian Dollar, Japanese Yen Look Past Soft Chinese PMI Data

AUDJPY (5min chart) – March 23, 2014Created with FXCM Marketscope

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

DISCLOSURES