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
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
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Mixed
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
  • RBNZ Credit Conditions Survey - New Zealand banks report a decline in demand for credit during first half of 2020. - Banks indicate lending standards are likely to tighten.
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/OjTZOQEytM https://t.co/0KdF1bvOXW
  • 🇨🇳 Balance of Trade (JUN) Actual: $46.42B Expected: $58.6B Previous: $62.93B https://www.dailyfx.com/economic-calendar#2020-07-14
  • Heads Up:🇨🇳 Balance of Trade (JUN) due at 03:00 GMT (15min) Actual: $46.42B Expected: $58.6B Previous: $62.93B https://www.dailyfx.com/economic-calendar#2020-07-14
  • Heads Up:🇨🇳 Balance of Trade (JUN) due at 03:00 GMT (15min) Expected: $58.6B Previous: $62.93B https://www.dailyfx.com/economic-calendar#2020-07-14
  • The ASX 200 and AUD/JPY are at risk of losses as cases of Covid-19 continue to climb in Victoria, Australia’s second-most populous state. Get your #ASX market update from @DanielGMoss here: https://t.co/O0LNvhy4eY https://t.co/YXoHRqy8WJ
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: -0.25% Silver: -0.31% Oil - US Crude: -2.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rQwKZkZmUv
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.09% 🇪🇺EUR: -0.02% 🇨🇭CHF: -0.04% 🇬🇧GBP: -0.06% 🇨🇦CAD: -0.08% 🇳🇿NZD: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lgkxPjTNvz
  • China Econ (JUN): Exports (YoY) CNY 4.3% vs 3.5% expected and 1.4% in May Imports (YoY) CNY 6.2% versus -4.7% expected and -12.7% in May -BBG $AUDUSD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.69%, while traders in US 500 are at opposite extremes with 73.73%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cAtIUwaZEg
China’s Optimistic PMI Figures Push AUD Forward

China’s Optimistic PMI Figures Push AUD Forward

2015-01-06 20:33:00
Michael Romero,
Share:

Talking Points:

USD/CNH Look Past Optimistic December HSBC PMI Figures.

USD/AUD Strengthen Following Better Than Expected Trade Deficit And HSBC PMI Figures.

The USD/CNH rose following the optimistic HSBC China Services PMI and Composite PMI data that crossed the wire, signaling that despite a surge in China’s services sector, general output and a depressing housing market seems to warrant further interest rate changes in the future.

The HSBC China Services PMI soared to new heights on Tuesday, accelerating from 53 percent in November 2014 to 53.4 percent in December 2014, almost reaching the yearly high of 54.1 percent. In addition, the HSBC Composite PMI slightly increased from 51.1 percent in November 2014 to 51.4 percent in December 2014.

China’s Optimistic PMI Figures Push AUD Forward

The improvement mainly stemmed from stronger growth in the service sector and also a weaker contraction in Manufacturing PMI, which has fallen from 50.3 percent in November 2014 to 50.1 percent in December 2014 as compared to the .5 percent drop between October and November. Staffing levels continued to soar, increasing for the sixteenth consecutive month, with overall job creation increasing to its highest level in 18 months.These optimistic figures came as an encouraging sign as China’s manufacturing sector continues to slow and the housing market remains soft. Manufacturing PMI has continued to contract, falling from the yearly high of 51.7 percent in July 2014.

These findings only reinforced expectations that more monetary stimulus and government intervention, similar to the People’s Bank of China’s decision to cut its benchmark one-year loan rate by 0.4 percent to 5.6 percent and the one-year deposit rate reduction from 3 percent to 2.75 percent, in November of last year. Flagging manufacturing growth, lackluster demand, and a poor housing market will continue to warrant and put pressure on the regime to bolster growth as it is expected to be around 7.4 percent for 2015. With further interest rate cut expectations it comes as no surprise that since November of 2014 we have seen the USD appreciate against the CNH, this could also be a result of expected interest rate hikes in the US.

China’s Optimistic PMI Figures Push AUD Forward

The AUD has pushed to new heights today after optimistic trade data came out of China, coupled with a better than expected trade deficit. Australia’s trade deficit came in at -$925 million better than leading economist’s expectations of -$1600 million and up from -$1323 million in the previous period. The change stemmed from a boost in other mineral fuels which rose 21 percent and machinery exports which increased by 13 percent. The AUD rallied from yesterday’s 5-and-a-half-year lows following the better than expected data, coupled with PMI data released by HSBC for China.

China’s Optimistic PMI Figures Push AUD Forward

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

DISCLOSURES

News & Analysis at your fingertips.