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

US House Speaker Nancy Pelosi announces no fiscal stimulus deal reached after failed talks Thursday evening

Real Time News
  • The US Dollar soared against emerging market and ASEAN currencies as capital fled developing economies in a sign of rising concern about the global growth outlook. Will this continue? Find out from @ddubrovskyFX here:https://t.co/mAyo9IAjNM https://t.co/dYFes3pJKJ
  • Heads Up:🇯🇵 Unemployment Rate (AUG) due at 23:30 GMT (15min) Expected: 3% Previous: 2.9% https://www.dailyfx.com/economic-calendar#2020-10-01
  • RT @FxWestwater: EU Stoxx 50 Forecast: Bears Ready to Drag Index Lower on Rising Virus Cases? - via @DailyFX https://www.dailyfx.com/forex/market_alert/2020/10/01/EU-Stoxx-50-Forecast-Bears-Ready-to-Drag-Index-Lower-on-Rising-Virus-Cases.html ht…
  • The New Zealand Dollar’s correction lower against the Japanese Yen and US Dollar may be at an end, as NZD remains constructively perched above key chart support. Get your $NZD market update from @DanielGMoss here:https://t.co/8GiKFTfrMP https://t.co/NbRPmU4ce2
  • S&P 500 Outlook: Stocks Flop, VIX Pops on Failed Stimulus Talks Link to Analysis via @DailyFX - https://www.dailyfx.com/forex/market_alert/2020/10/01/sp500-outlook-stocks-flop-vix-pops-on-failed-stimulus-talks.html $ES_F $SPX $SPY #Trading https://t.co/FDVzo9yV4X
  • Yesterday’s gains in the Euro had largely stemmed from month & quarter end rebalancing flows, which had been quite the contrary to various investment bank models touting USD buying. Get your $EURUSD market update from @JMcQueenFX here:https://t.co/zgvi24o4SR https://t.co/7qn4zTf6es
  • $EURUSD Daily Pivot Points: S3: 1.1497 S2: 1.157 S1: 1.1601 R1: 1.1673 R2: 1.1716 R3: 1.1789 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.48% 🇦🇺AUD: 0.28% 🇨🇭CHF: 0.25% 🇪🇺EUR: 0.21% 🇯🇵JPY: -0.06% 🇬🇧GBP: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/7SFSKZGIXS
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.39% Gold: 1.04% Oil - US Crude: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/shTxKyCvb8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.66%, while traders in US 500 are at opposite extremes with 65.68%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rUjXP0dNLh
Australian Dollar Falls as Chinese Data Fuels RBA Rate Cut Bets

Australian Dollar Falls as Chinese Data Fuels RBA Rate Cut Bets

2015-10-13 03:16:00
Daniel Dubrovsky, Analyst
Share:

Talking Points:

  • AUDUSD falls more than 0.4 percent in early Asia trade
  • Chinese imports, in Yuan terms, fall to a new 4 month low
  • Australian 2 year government bond yields decline fueling RBA rate cut bets

Macroeconomic events affect currency valuations. Stay updated with major releases on our calendar

The Australian Dollar fell more than 0.4 percent against the US Dollar after September’s Chinese trade data crossed the wires. In Yuan terms, China’s Trade Balance topped estimates coming in at its highest level since January 2013 of 376.20b. Exports fell -1.1 percent (YoY) beating the -7.4 percent estimate. Lastly, China’s imports missed expectations and fell -17.7 percent (YoY), the most in four months.

Following the release, China’s Customs Spokesman Huang Songping stated that China’s trade growth is still facing difficulties. In addition, he also pointed out that the drop in imports was mainly due to the commodity price slump. Looking ahead, Mr Songping forecasted that China’s fourth quarter trade data will likely improve.

Despite most of the data topping estimates and the positive rhetoric from China’s Customs Spokesman, Australian 2-year government bond yields declined. The sharp drop in imports may have fueled worries about slowing demand from Australia’s largest trading partner, which could have negative knock-on effects on growth and inflation. The RBA is already expected to cut rates at least once over the next 12 months, but today’s data make have hinted that the central bank will do so sooner rather than later.

Australian Dollar Falls as Chinese Data Fuels RBA Rate Cut Bets

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

DISCLOSURES