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
Oil - US Crude
More View more
Real Time News
  • My trading video for today: 'Dollar or Dow: Which Faces the Biggest Impact from the Fed Decision, Forecasts?' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/11/Dollar-or-Dow-Which-Faces-the-Biggest-Impact-from-the-Fed-Decision-Forecasts.html?CHID=9&QPID=917719 https://t.co/K0zruCw1qy
  • Market positioning hints that NZD/USD may turn higher as the AUD/USD extends its near-term drop ahead of the Fed, UK General Election and the December 15 US-China tariff deadline $AUDUSD $NZDUSD - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/12/11/NZDUSD-Rate-May-Rise-as-AUDUSD-Price-Falls-on-Trader-Bets.html?CHID=9&QPID=917702 https://t.co/j1d3kkVfEf
  • Philippine keeps CPI assumption through 2020 at 2%-4%, latest estimates on 2020-2022 GDP growth at 6.5% to 7.5% -BBG $USDPHP #PHP #BSP
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Gold: -0.04% Silver: -0.18% Oil - US Crude: -0.50% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LgsPNfcKsp
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.05% 🇪🇺EUR: 0.01% 🇨🇭CHF: -0.01% 🇨🇦CAD: -0.05% 🇬🇧GBP: -0.15% 🇳🇿NZD: -0.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/OY4a8ADSNd
  • Missed this week's session on IG Client Sentiment? Check out the recording on YouTube below! - https://t.co/89A37fRLyg
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.16%, while traders in US 500 are at opposite extremes with 77.31%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/MkBuM9u61U
  • On the first day of holiday movies, John McClane had to say, "welcome to the party and yippee-ki-yay"
  • #NZDJPY Technical Outlook: Bearish Correction Ahead? https://www.dailyfx.com/forex/market_alert/2019/12/11/NZDJPY-Technical-Outlook-Bearish-Correction-Ahead.html
  • Japan's Chief Cabinet Secretary Suga: Paying close attention to the economy after the sales tax hike -BBG
Australian Dollar Steady After China Retail Sales Miss

Australian Dollar Steady After China Retail Sales Miss

2017-03-14 02:26:00
David Cottle, Analyst

Talking Points

  • The Australian Dollar held steady after a mixed bag of Chinese data
  • Retail sales missed the mark, by quite a margin
  • However industrial production topped estimates

The Australian Dollar was little moved Tuesday by a run of Chinese economic data which on balance left investors little the wiser about the world’s number two economy.

Retail sales rose 9.5% for the year to end-February, compared with the same period in 2016. That was some way below both January’s 10.4% gain and the 10.6% rise which markets had expected. However, the series has likely seen some impact from the early timing of the long Lunar New Year break and so economists may wait to see more data from this sector.

Industrial production numbers were released simultaneously and they managed to beat expectations, if not by much. Their 6.3% annualized gain was a whisker better than the 6.2% rise expected, but rather further above the previous 6% rise.

The Australian Dollar can often act as the foreign exchange market’s favorite liquid China proxy but there’s little sign that it did so on this occasion. AUD/USD had slipped earlier following the release of weaker Australian business confidence numbers from local lender NAB. However, it did little after these latest Chinese data and merely hovered around the 0.75590 point.

Nothing Much To See Here. AUD/USD

Australian Dollar Steady After China Retail Sales Miss

Chart Compiled Using TradingView

The Aussie market like all others is focused on the US Federal Reserve. The central bank will set monetary policy this week at a meeting widely expected to conclude with an interest-rate hike.

Last week’s official US labor data were seen in the markets as the final barrier to a move. In the event non-farm payrolls rose strongly. Meanwhile Australian interest rates are seen on hold, possibly for the remainder of this year and into next.

What does the market think about your favorite currency? The DailyFX sentiment page can tell you.

--- 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.


News & Analysis at your fingertips.