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.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
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
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
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
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • Could this be the turning point for the #USD? My majors-based #Dollar index is testing key support from April with positive RSI divergence. If sentiment continues improving, that may offer the fundamental scope to continue lower towards March lows https://t.co/vIIvyF8zpU
  • The scale of the monthly chart can be particularly useful in spotting systemic developments. Gold for example reflects enormous lift of a haven during supposed 'risk on'. The candle chart is gold equally weighted in USD, EUR, GBP and JPY. Orange is $GC_F https://t.co/4yEjT7FvGA
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.49% 🇨🇭CHF: 0.30% 🇪🇺EUR: 0.25% 🇳🇿NZD: -0.06% 🇨🇦CAD: -0.06% 🇯🇵JPY: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OR9TIAZM1e
  • Food for thought https://t.co/WyOnOvnPbM
  • More people have filed for unemployment in the United States in the last three months than the entire population of Canada... In other news, $QQQ is just ~3% from its all-time high!
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.85% Gold: 0.73% Oil - US Crude: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tCGrDwpnas
  • There really is no “taking one day off Twitter without something massive happening” is there? https://t.co/xRQ4wzhA43
  • With $EURUSD clearing 1.1000 this past week and the big swing the past few weeks, it seems remarkable progress for the benchmark currency pair. But consider the monthly picture. It is still awaiting the sentiment nod... https://t.co/4jBDlHwEqg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.03%, while traders in US 500 are at opposite extremes with 75.77%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/BUbAYHNPIt
  • Amid escalating China tension, Australian Dollar risk reversals indicate that the bullish bias recently enjoyed by AUD/USD could soon unwind and pressure spot prices back lower. Get your AUD/USD technical analysis from @RichDvorakFX here: https://t.co/ZAHEwxNrEW https://t.co/cIFgSuoWF2
Aussie Dollar Resumes Advance after Caixin PMI Services Report

Aussie Dollar Resumes Advance after Caixin PMI Services Report

2016-05-05 03:53:00
Daniel Dubrovsky, Analyst
Share:

Talking Points

  • AUD/USD stalls and then resumes gaining after Caixin China PMI report
  • PMI Services 51.8 versus 52.2 prior, PMI Composite 50.8 versus 51.3 prior
  • Data highlights goal to transition from manufacturing to service economy

Having trouble trading the Australian Dollar? This may be why.

The Australian Dollar showed a tepid response to the Caixin China PMI report. During yesterday’s session, the pair hit a 6-week low and corrected higher. In the aftermath of the report, the Aussie briefly stalled and then resumed its advance. Meanwhile, the DailyFX Speculative Sentiment Index (SSI) showed a reading of 1.24 following the announcement implying further Aussie weakness ahead.

The gauge of the country’s service sector showed a print of 51.8 in April, slower than the 52.2 reading in March. A reading above 50 indicates expansion while a reading below shows contraction. The overall composite PMI also slowed down coming in at 50.8 versus 51.3 prior.

More importantly, the services report showed that the consumer portion of China’s economy is expanding – albeit slower than in March. The nation’s government is attempting to transition from a manufacturing based to a consumer oriented economy.

Even though China is Australia’s largest trading partner, perhaps a minimal reaction from the Australian unit could be explained by key upcoming event risk. This Friday, the US will release April’s employment report which could potentially be a volatile event. Since the Aussie Dollar is a risk sensitive currency, traders could be taking initiative by closing short positions in order to ride out a potential storm.

Want to learn more about the DailyFX SSI indicator? Click here to watch a tutorial.

Aussie Dollar Resumes Advance after Caixin PMI Services Report

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

DISCLOSURES

News & Analysis at your fingertips.