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
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
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
Bullish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • (ASEAN Fundy) US Dollar Forecast: Stuck Between Treasuries, Equities as Emerging Markets Push On $USDSGD $USDTWD $USDPHP #EmergingMarkets #ASEAN https://www.dailyfx.com/forex/fundamental/article/special_report/2021/01/26/US-Dollar-Forecast-Stuck-Between-Treasuries-Equities-as-Emerging-Markets-Push-On.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/SVqNE5I4NV
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in US 500 are at opposite extremes with 68.42%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/5qXbmhK4TF
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.01% 🇨🇭CHF: -0.05% 🇪🇺EUR: -0.08% 🇨🇦CAD: -0.18% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/q1uXEuBA1M
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.08% Germany 30: -0.06% France 40: -0.14% Wall Street: -0.52% US 500: -0.57% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/bCGarAMjGk
  • Want to make trading decisions with confidence? Download you free guide to avoid hesitations in your trading decisions.https://t.co/00I3lH90OD #DailyFXGuides https://t.co/LEzeGkMlO6
  • Market Snapshot: Anti-risk USD and JPY outperforming Growth-linked Australian, New Zealand and Canadian Dollars underperforming Wall Street futures extending losses during Tuesday APAC trade Nikkei 225 (-1.0%), Hang Seng (-2.4%), Shanghai Composite (-1.2%) [delayed] -BBG
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:https://t.co/OMNoNHn2vZ https://t.co/FyyPehAlJh
  • Thai Debt Chief Rules Out Additional Stimulus Borrowing For Now - BBG
  • The #HSI Hang Seng Index tumbled 2.5% as profit-taking kicked in among tech stocks: - Tencent (-5.94%) - Alibaba (-1.86%) - Meituan (-6.35%) - Xiaomi (-1.64%)
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:https://t.co/c89gcaNhTt https://t.co/egDQcTpU87
AUD/USD Still Gaining as Chinese Business Mood Picks Up

AUD/USD Still Gaining as Chinese Business Mood Picks Up

David Cottle, Analyst

Talking Points

  • Chinese business sentiment picked up a little in November, according to MNI
  • October’s print had been a five-month low for the series
  • However, the latest survey data look cautiously optimistic

The Australian Dollar is arguably the foreign exchange market’s favorite liquid China proxy and it was steady on Wednesday after news of a modest pickup in business sentiment.

The indicator from US-based consultancy MNI came in at 53.1 for November. That made it modestly higher than October’s 52.2 print, but that had marked a five-month low.

Weakness in this survey has long been led by lower confidence among manufacturing companies, and it remains to be seen to what extent the current stronger-US-Dollar environment will offer succor to China’s exporters.

However, MNI said that new orders and output were both higher on the month, with a weaker Yuan underpinning sentiment. It also said that business conditions were likely to hold up, noting that the survey’s production sub-index rose to a thirteen-month peak of 58.0.

Companies also said they expected increased activity levels to endure over the next three months.

The MNI survey has been in existence since 2007 and provides market-watchers with a relatively early look at sentiment levels.

The AUD/USD pair was unmoved by the data release. The bulls seem to retain the upper hand, which they wrested back after a weak start to the week as the so-called “Trump trade” went into reverse. The Aussie also shrugged off a bleak set of Australian construction data earlier in the session.

AUD/USD was at 0.74236 after the data, from 0.74220 just before it.

Still climbing: AUD/USD through the Asia morning

AUD/USD Still Gaining as Chinese Business Mood Picks Up

Chart compiled using TradingView

--- Written by David Cottle, DailyFX Research

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

DISCLOSURES