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.

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
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Bearish
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
More View more
Real Time News
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.11% 🇨🇦CAD: 0.09% 🇨🇭CHF: 0.05% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Jntw19iZKD
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.41% France 40: 0.22% Germany 30: 0.21% US 500: 0.15% FTSE 100: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uA7dhYQvQx
  • Chinese stocks rallied following PBOC's liquidity injection: - CSI 300 (+1.49%) - Hang Seng Index (+1.16%) - Hang Seng Tech Index (+2.23%) https://t.co/7j4DJu6YZD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/hwp2EU0zEm
  • "Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.12%) Nasdaq 100 (+0.04%) [delayed] -BBG"
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.61% Gold: 0.23% Oil - US Crude: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UQpIKV2jEZ
  • Natural gas prices have recaptured a key trendline after a major heatwave sent energy demand in the United States soaring. Get your market update from @FxWestwater here:https://t.co/7DdcMrObKp https://t.co/G3OuF7Y5IB
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.17% 🇦🇺AUD: 0.11% 🇪🇺EUR: 0.10% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.04% 🇯🇵JPY: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lqLaaO04eh
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.38%, while traders in France 40 are at opposite extremes with 70.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KYpAOemcJX
  • The US Dollar may gain versus ASEAN currencies like the Singapore Dollar, Thai Baht and Philippine Peso after the Fed projected 2 rate hikes by the end of 2023. All eyes on US PCE data. Get your market update from @ddubrovskyFX here:https://t.co/LaLVW8FFHI https://t.co/Y0FoP7A5ZW
Aussie Dollar Opened Lower After Weakest China PMI Print in 7 Years

Aussie Dollar Opened Lower After Weakest China PMI Print in 7 Years

Bradley A. Kearns,

Talking Points:

  • China’s manufacturing PMI posted a reading of 49.8 in October
  • Aussie Dollar opened lower in trading week on soft Chinese data
  • China’s PMI added to global growth concerns and RBA dovish expectations

The Australian Dollar opened lower against its US counterpart as soft PMI data from China crossed the wires before the start of the trading week. The second largest economy’s manufacturing PMI matched its previous reading at 49.8 but fell below the 50 forecast. Non-manufacturing PMI showed a print of 53.1 as opposed to its 53.4 prior mark. This is the lowest figure since 2008. It is important to note that a print under 50 represents a contraction in the sector.

From the Aussie Dollar’s viewpoint, this data has direct implications for diminished export demand. China is Australia’s largest trade partner and its manufacturing sector has fueled much of the demand for Australia’s raw materials. The soft data may also affect RBA monetary policy expectations. A reduction in Chinese demand may weigh on Australian CPI and trade figures. The markets are pricing in a seventy-four percent chance the RBA will cut rates at its next policy meeting.

Moving towards the global perspective, the health of the Chinese economy was been a concern for traders who fear that an international slowdown is looming over the markets. The IMF and Fed Chair Janet Yellen have voiced concerns regarding the health of developing countries. This has led traders to think that a slowdown in China can have spillover affects into other countries, which will affect asset prices.

Aussie Dollar Opened Lower After Weakest China PMI Print in 7 Years

.

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

DISCLOSURES