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
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
GBP/USD
Bearish
USD/JPY
Bullish
Gold
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
Oil - US Crude
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
Bitcoin
Mixed
More View more
Real Time News
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/mk1w1DM2Rh https://t.co/rEVhCnC0vY
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia here: https://t.co/r3Ku0p9dw1 https://t.co/I1AA0UEyWq
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/o4zt4pmSzc
  • The $USDINR may fall as the Nifty 50 rises after the US and China avoided tariff escalation and Indian CPI increased at its fastest pace since July 2016 amid on onion shortage. Get your market update from @ddubrovskyFX here:https://t.co/iXLf98geXL https://t.co/uVwbkkkl09
  • My weekend trading video: 'A #Dow and Yuan Retreat Could Break 2019's Bullish Complacency' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/14/A-Dow-and-Yuan-Retreat-Could-Break-Break-2019s-Bullish-Complacency.html?CHID=9&QPID=917719
  • The $USD may extend declines against its ASEAN counterparts after the Fed rate decision. The Philippine Peso and Singapore Dollar are attempting key technical breakouts. Get your market update from @ddubrovskyFX here:https://t.co/JoPLb4Oi2q https://t.co/fKzeBlWaCx
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/Mf9e1cgWmR
  • The #Euro jumped higher to challenge range resistance capping upside progress since mid-October. Signs of ebbing momentum warn it may be back on defense soon. Get your market update from @IlyaSpivak here: https://t.co/MGqVDEWhUD https://t.co/rQRxJAmLWi
  • RT @zerohedge: Is The Market Up This Week? Just Ask The Fed's Balance Sheet https://t.co/6p01J9yAZ8
  • $USD: "The US Dollar is making a last-ditch effort to cling onto a key technical support level after dropping 3% from its 2019 high as risk appetite roars and the Fed inflates its balance sheet." - via @DailyFX Full Analysis: https://www.dailyfx.com/forex/fundamental/us_dollar_index/usd_trading_today/2019/12/14/us-dollar-outlook-fx-volatility-rising-from-extreme-lows-usd-levels-to-watch.html https://t.co/87cITJPVQa
Trump-Watching Australian Dollar Ticks Up After China PMIs

Trump-Watching Australian Dollar Ticks Up After China PMIs

2017-03-01 02:21:00
David Cottle, Analyst
Share:

Talking Points:

  • The Australian Dollar didn’t move far despite upbeat news from China’s economy
  • Both official and private sector Purchasing Managers’ Indexes topped forecasts
  • Like many other assets, the Aussie seems to be waiting for Donald Trump’s policy speech

The Australian Dollar ticked up but remained confined to a tight range Wednesday following the release of another strong Chinese manufacturing survey.

The private Purchasing Mangers’ Index (PMI) for the sector from Chinese media group Caixin came in at 51.7 for February. That put it above both January’s 51.0 and the 50.8 which markets had expected. In the logic of PMI surveys, any reading above 50 indicates an expansion in the sector compared to the previous month. A reading below that means contraction.

The data came on the heels of official PMI surveys for the same month released earlier Wednesday. They also showed that manufacturing activity expanded faster than expected. The PMI for that sector came in at 51.6. That was a three-month high and well above market expectations (51.1). China’s industrial firms continue to benefit from higher sales prices and a construction-fueled recovery in demand.

However, the official service-sector snapshot showed the pace of acceleration there slowing slightly from the previous month. The PMI was 54.2 in February, from 54.6 in January. The official PMIs concentrate on China’s large concerns, most of which have high state involvement. Meanwhile the Caixin version looks at smaller, private firms.

The Australian Dollar didn’t react strongly to the numbers. It often acts as the markets’ favored liquid China proxy thanks to Australia’s strong commodity export links with the world’s number-two economy.

AUD/USD ticked up to 0.76650, from 0.76548 before the Caixin release.

However, activity was possibly muted by the wait for US President Donald Trump’s major policy speech to Congress, as it has been in other assets. The speech was due to start shortly after the data were released.

The currency showed relatively little reaction even to admittedly well-flagged news that the Australian economy had avoided technical recession and expanded strongly in the final three months of 2016.

Awaiting the Pleasure of the President? AUD/USD

Trump-Watching Australian Dollar Ticks Up After China PMIs

Chart Compiled Using TradingView

It may be your favorite currency, but who else cares? Check out the DailyFX sentiment page for a steer.

--- 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

News & Analysis at your fingertips.