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
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
More View more
Real Time News
  • Want to hear my thoughts on the US Dollar? Check out yesterday's recording with #AuzBiz hosted by @KaraOrdway on 'The Trade' We discussed a #USD index, Treasury yields, $USDJPY, $AUDUSD and $NZDUSD https://t.co/yxwquL1btp https://t.co/RtWjlN6kpv
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:https://t.co/Vnxi41lETt https://t.co/FyZuHNzsU3
  • Feels like the market has been front-running next week’s FOMC announcement, which will reveal updated dot plot projections. Expectations clearly set for a more hawkish shift in guidance. That said, if the Fed does not deliver, US Dollar bulls could be disappointed. $USD $DXY https://t.co/o2v6ibac3L
  • USD/CAD has been chopping around the past week-and-a-half, offering virtually no cues on its next direction. Get your market update from @PaulRobinsonFX here:https://t.co/eq1YkOa3mC https://t.co/V6h8BjyeGa
  • FDA panel votes 16-3 against approving Covid-19 booster shots - BBG
  • RT @C_Barraud: 🇺🇸 Americans Haven’t Been This Down on #Housing Market Since 1982 - Bloomberg *Link: https://t.co/wWFnbAwIDO https://t.co/6G…
  • US Dollar Price Action Setups Pre-FOMC: EUR/USD, GBP/USD, USD/CAD https://www.dailyfx.com/forex/analyst_picks/todays_picks/james_stanley/2021/09/17/US-Dollar-Price-Action-Setups-pre-FOMC-EURUSD-EUR-USD-GBP-USD-GBPUSD-USD-CAD-USDCAD.html https://t.co/J25MYsXCa9
  • The US Dollar is pushing up to a fresh September high after the release of University of Michigan Consumer Sentiment data. Get your $USD market update from @JStanleyFX here:https://t.co/2CDNZh2a89 https://t.co/bULXuCaHKk
  • I have this $SPX chart taking over one of my whole screens, and I just keep staring at that 50-day moving average... https://t.co/R9LQAuL2DL
  • RT @TheStalwart: Nice chart, which shows why countries in green on the perimeter, like Iran, Peru, and Turkey are known for their stability…
AUD/USD Falls As China Weakens Yuan to Lowest Point in 5 Years

AUD/USD Falls As China Weakens Yuan to Lowest Point in 5 Years

Bradley A. Kearns, Daniel Dubrovsky,

Talking Points:

  • AUD/USD exchange rate declined before the Chinese PMIs were released
  • China composite PMI drops below 50 threshold, consumer sentiment improves
  • Record Yuan fixing rate accommodation may have influenced risk-off trading

Losing Money Trading the Australian Dollar? This Might Be Why.

The Australian Dollar started a decline against its US counterpart before China was due to release a couple of PMI figures. Once the data crossed the wires, Caixin PMI Services showed a print of 50.2 in December as opposed to its 51.2 reading in November. The Caixin PMI Composite showed a slight contraction to 49.4 for the same period, and the prior figure was 50.5. Also released at this time was the Westpac-MNI Consumer Sentiment gauge, which rose slightly to 113.7 in December versus its 113.1 print in November.

The timing of the Chinese PMI release occurred in the midst of risk aversion. Australian front-end bond yields, the Nikkei 225 index, and S&P 500 futures all tracked lower ahead of the news. The drop in these assets occurred approximately when China weakened the Yuan reference rate against the US Dollar to the lowest point since April 2011. Financial news outlets have speculated that this may have caused risk-off trading because it infers the world’s second largest economy requires additional accommodative policy measures for growth.

AUD/USD Falls As China Weakens Yuan to Lowest Point in 5 Years

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

DISCLOSURES