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
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
Bullish
USD/JPY
Bearish
Gold
Bullish
Oil - US Crude
Bearish
Bitcoin
Bearish
More View more
Real Time News
  • Indices Update: As of 19:00, these are your best and worst performers based on the London trading schedule: France 40: 0.22% Germany 30: 0.16% Wall Street: 0.13% US 500: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/iCFcLtexL8
  • $AUDUSD dipped by about 0.25% following the latest US-China trade war news but the Aussie so far seems to be finding support around the 0.6800 handle. Get your market update from @RichDvorakFX here: https://t.co/fTUPDbt7Lz https://t.co/pLq0627odh
  • Update on #Cryptocurrencies #BITCOIN -3.75% #BITCOINCASH -6.18% #ETHEREUM -1.47% #RIPPLE -4.04% #LITECOIN -4.74%
  • RT @zerohedge: The market has now fully priced in a global economic recovery https://t.co/ZBDcLMa5At
  • Commodities Update: NYM WTI Crude 56.72 (-1.72%) ICE Brent Crude 62.16 (-1.80%) NYM NYH Gasoline 160.91 (-1.58%) [delayed]
  • En español: La reunión sorpresa entre Donald Trump y Jerome Powell refuerza el avance del $EURUSD #trading #forex #euro #EURUSD https://t.co/tqjw8624Vd https://t.co/upVrEBGhin
  • En español: Lareunión sorpresa entre Donald Trump y Jerome Powell refuerza el avance del $EURUSD #trading #forex #euro #EURUSD https://t.co/tqjw8624Vd https://t.co/mCBcDANxGv
  • RT @FirstSquawk: Secretary of State Michael R. Pompeo will speak to media at 2:30pm from the agency's press briefing room.
  • Fed's Mester: - Some evidence of negative rates being effective in Europe - Not a proponent for using negative rates in the US $DXY $TNX
  • Australian Dollar Forecast - $AUDUSD, $AUDJPY, $GBPAUD, $EURAUD (via @DailyFX) Full Analysis: https://www.dailyfx.com/forex/market_alert/2019/11/18/aud-price-australian-dollar-forecast-audusd-audjpy-euraud-gbpaud.html https://t.co/g2ZNBonRN8
Asian Stocks Mixed, China PMI Contraction Casts Cloud

Asian Stocks Mixed, China PMI Contraction Casts Cloud

2017-06-01 06:53:00
David Cottle, Analyst
Share:

Talking Points:

  • Asian stocks were mixed with a surprise fall in a Chinese manufacturing gauge weighing on many
  • The Nikkei managed gains, however, as business capex pleased investors
  • But the Australian Dollar was clobbered by those Chinese numbers

Give your Asian Market trading strategy a tune-up with the DailyFX guide

There were more mixed fortunes for Asia/Pacific stocks Thursday although many bourses took a knock from some disappointing economic news out of China. The Caixin survey of smaller, private firms in the world’s second largest economy notched up its first contraction for twelve months in May. Modest expansion had been expected.

The rest of the day’s Asia/Pacific economic data were something of a roller coaster. Australian retail sales soared above forecasts, but Japanese capital spending numbers dented the Yen with a much more modest beat- speaking to prospects for improved global demand rather than any improvement in Japanese consumption.

The Nikkei 225 ended the session up 1.1% after those strong capex data, but mainland Chinese stocks unsurprisingly fell. Australia’s ASX was steady into the close, up 0.2%..

The Australian Dollar was the major currency casualty of that disappointing China data. The Aussie often acts as the markets’ liquid China-trade proxy and lost about 0.5% against the US Dollar. China’s Yuan rallied again adding to gains made on Wednesday, reportedly on investor views that its home central bank is now less inclined to let it weaken against the US Dollar.The greenback edged up but endured a torpid session overall

Gold prices held steady, having hit five-week highs the session before, although the perceived prospect of higher US interest rates this months was reportedly capping gains. Crude oil prices got a lift on news that the US could pull out of the Paris global climate change accord and after data showed that US stockpiles had fallen by more than expected. Both the US benchmark and international Brent added about 40 cents/barrel.

Italian Gross Domestic Product Data and the UK manufacturing PMI. From the US will come the employment snapshot from Automated Data Processing, weekly jobless-claim numbers and the manufacturing survey from the Institute for Supply Management. More news of US oil-inventory levels are also coming, as is Canada’s manufacturing PMI.

--- 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.