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
Bullish
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
Mixed
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Breaking news

Core PCE prints at 1.6% v/s expectation of 1.4% - PMI reports are on deck

Real Time News
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Silver: 1.69% Gold: 0.92% Oil - US Crude: -2.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UwJkmj88q6
  • Speaker Pelosi reportedly sounds very skeptical of a stimulus deal - politico
  • 🇺🇸 Markit Manufacturing PMI Final (SEP) Actual: 53.2 Previous: 53.1 https://www.dailyfx.com/economic-calendar#2020-10-01
  • Heads Up:🇺🇸 Construction Spending MoM (AUG) due at 14:00 GMT (15min) Expected: 0.8% Previous: 0.1% https://www.dailyfx.com/economic-calendar#2020-10-01
  • Heads Up:🇺🇸 ISM Manufacturing Prices (SEP) due at 14:00 GMT (15min) Expected: 58.6 Previous: 59.5 https://www.dailyfx.com/economic-calendar#2020-10-01
  • Heads Up:🇺🇸 ISM Manufacturing PMI (SEP) due at 14:00 GMT (15min) Expected: 56.4 Previous: 56 https://www.dailyfx.com/economic-calendar#2020-10-01
  • #Brexit negotiations fail to make sufficient progress so far. Price Action struggles to remain above the psychological level of 0.9100. Get your $EURUSD market update from @Tams707 here: https://t.co/ulGOyuZcj7 https://t.co/Ldt19jqe4j
  • 🇨🇦 Markit Manufacturing PMI (SEP) Actual: 56 Previous: 55.1 https://www.dailyfx.com/economic-calendar#2020-10-01
  • 🇨🇦 Markit Manufacturing PMI (SEP) Actual: 56.0 Previous: 55.1 https://www.dailyfx.com/economic-calendar#2020-10-01
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: US 500: 0.81% Wall Street: 0.63% France 40: 0.24% FTSE 100: 0.21% Germany 30: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/2iBc6pPj7P
AUDJPY Plunged after China PMI Point to Further Weakness in Economy

AUDJPY Plunged after China PMI Point to Further Weakness in Economy

2014-05-05 03:04:00
Benjamin Du,
Share:

Talking points

  • HSBC ChinaManufacturing PMI 48.1 in April vs. 48.4 Expected and 48.3 Prior
  • AUD/JPY falls as markets shift to the Yen in a risk averse move
  • USD/JPY drops below a key technical level at 102.00

The Australian Dollar dropped against the Yen following a weaker-than-expected China PMI print, which may have fuelled concerns over a further deceleration of economic growth in the world’s second largest economy. The HSBC China Manufacturing PMI gauge came in at 48.1 in April, which was below expectations of a 48.4 figure and compared to 48.3 in March.

The April reading represents the fourth straight month the gauge of strength in the manufacturing sector has been in contractionary territory. Data released last month showed that China’s Gross Domestic Product grew by 7.4 percent over the same period last year; its slowest pace since the global financial crisis in 2009.

Australia counts China as its largest trading partner, and would be sensitive to any weakness in the Asian giant’s economy. Although Japan also counts China as a major trading partner, concerns over an impact in economic growth has nevertheless caused markets to shift into Japanese Yen which has long been considered a safe-haven currency. The AUD/JPY plunged immediately following the data release to test the critical support levels mentioned in guest commentator Paul Robinson’s analysis.

Want to trade with proprietary strategies developed by FXCM? Find out how with Mirror Trader

AUDJPY Plunged after China PMI Point to Further Weakness in Economy

AUDJPY (5min chart) – 5/5/2014 | Created with FXCM Marketscope

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

DISCLOSURES