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
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
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
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
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/rJUm1W9wrc
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/oZPoyPH2iw
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yN1I9FrfIS
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/5l3O9aHQbL https://t.co/DFEfCIl7zF
  • Thin liquidity can concentrate volatility and nowhere is that more evident than with Dogecoin. $DOGEUSD was down as much as 38% today. Watch for heightened bouts of volatility amid quiet risk trends in the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2021/04/17/Dollar-Outlook-Ties-Into-Key-Data-Rate-Forecasts-and-Even-Dogecoins-Rally-.html https://t.co/JO7O7zUKe9
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZjVIG https://t.co/Vv3jZNbLWg
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkzWwW https://t.co/9j004hyzUZ
  • Learning how to trade does not have to feel foreign. Hone your skills and build your confidence with free DailyFX guides today! https://t.co/lnxaQOsgid https://t.co/7myL4vGnt8
  • Using margin in forex trading is a new concept for many traders, and one that is often misunderstood. Margin is the minimum amount of money required to place a leveraged trade and can be a useful risk management tool. Learn about margin trading here: https://t.co/qZCE5asCzM https://t.co/yxE0OmLIP0
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/1mnOXUd00T https://t.co/iSrjZTeWwf
Aussie Dollar Slips On China Caixin PMI Miss

Aussie Dollar Slips On China Caixin PMI Miss

David Cottle, Analyst

Talking Points:

  • The rampant Aussie Dollar took a modest knock in the wake of China’ Caixin PMI data
  • The index came in nearly a full point below expectations
  • The sector is still expanding, however

The Australian Dollar slipped a little on Friday after the release of Chinese manufacturing data which disappointed the market. It remains close to three-month highs against its US cousin though.

The Caixin Purchasing Managers Index for January came in at 51.0, way below the 51.8 which markets had hoped for and December’s 51.9. This snapshot looks at smaller, mostly private Chinese manufacturing concerns. It came after Wednesday’s official PMI tipped the scales at 51.3, a tick below December’s score but a tick above expectations. That focuses on the large, state-controlled enterprises

In the logic of PMI surveys a print above 50 indicates expansion, with contraction lurking below that line. The Caixin PMI has been expanding since June.

All up, the picture for Chinese manufacturing as 2017 starts is one of stability but not stellar growth. It’s little wonder then that Chinese Premier Xi Jinping went to Davos this year to bang the drum for free trade. China may be pivoting towards services and consumption but its vast manufacturing and exporting machine clearly needs the external sources of demand on which it has relied for so long.

The Australian Dollar leaped to three-month highs on Thursday on the back of blockbuster trade data. The Lucky Country lived up to this nickname and managed a record high A$3.5 billion (US$2.6 billion) surplus for December.

This was largely thanks a surge in the value of commodity exports to China. The trade feast was doubly digestible to Aussie bulls. It was good news in its own right, but also raised the prospect that trade will keep the whole economy out of technical recession. Australia chalked up a rare economic contraction in the third quarter of 2016, causing the usual nervous market assessment of the chances of another one. The trade figures provided some reassurance that the fourth quarter will show growth.

The Caixin data haven’t taken all those gains away, but AUD/USD did slide as far as 0.76389, from 0.76593 just before the release.

Lower, but still well up for the week. AUD/USD

Aussie Dollar Slips On China Caixin PMI Miss

Chart Compiled Using TradingView

We’re well into the year’s first quarter now. How are the DailyFX analysts’ forecasts for the period holding up?

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter: @DavidCottleFX

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

DISCLOSURES