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
Bearish
GBP/USD
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
USD/JPY
Mixed
Gold
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
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • What is the @ecb (European Central Bank)? What are the key mandates of the bank and how can it affect the #forex market? Find out: https://t.co/romV4hPQJv https://t.co/4nlCaUNhpD
  • Your psychology has a significant impact on the decisions you make, particularly if you are new to trading. How can you avoid your emotions from turning you into a #FOMO trader? Find out: https://t.co/FC7CHpk9vA #FOMOintrading https://t.co/WSDr3JkpAG
  • $AUDUSD: Short-term support could lead-in to a quick bounce up to resistance as taken from another prior support level, plotted around the .6830 level on the chart. Get your market update from @JStanleyFX here: https://t.co/tUoe1Roo5t https://t.co/omaDxGNhZU
  • Central bank independence has several advantages. Find out what they are in detail with @MartinSEssex here: https://t.co/wVFXbbTxf1 https://t.co/cQQmuH8biQ
  • The US Dollar remains in consolidation mode against the Philippine Peso and Indian Rupee. Will the Singapore Dollar weaken as $USDSGD rising support holds ahead? Find out from @ddubrovskyFX here: https://t.co/HZ8Loqj3Ey https://t.co/6PCFkdj3ka
  • Follow @DailyFXedu for your regular #webinar updates with @DailyFX analysts and catch up on the webinars you missed. https://t.co/Da10QUg9r1
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
Asian Stocks Fade With Wall Street, Plentiful Economic Cues Ahead

Asian Stocks Fade With Wall Street, Plentiful Economic Cues Ahead

2018-12-05 06:06:00
David Cottle, Analyst
Share:

Asian Stocks Talking Points:

  • Markets were lower across the bord
  • Australian growth data came in weak, which didn’t help and already gloomy mood
  • The Dollar remained under pressure with Treasury yields in focus

Find out what retail foreign exchange investors make of your favorite currency’s chances right now at the DailyFX Sentiment Page

Wednesday was always going to be tough for Asia Pacific stocks given the clobbering Wall Street took in the previous session. US investors took fright as they fretted the details of last weekend’s US/China trade truce and worried about the possibility of economic deceleration ahead.

These worries were hardly lessened in Asian hours by a third-quarter Australian Gross Domestic Product which came in well below forecasts. Bulls may cling to the thesis that, even now, Australia is growing more strongly than many comparable Western economies, and look with hope to a real trade deal between Washington and Beijing. That would surely see the Australian economy accelerate again. However, the most recent data were a disappointment.

The Nikkei 225 was down 0.6% as its close loomed Wednesday. Shanghai was off by 0.7% with the Hang Seng down 1.8%. The ASX 200 slipped 0.8% with the banking sector under special pressure. Those weak Australian growth numbers suggest that local interest rates will be staying at their already venerable record lows for the foreseeable future.

The US Dollar remained defensive as the markets surveyed a bit of yield curve inversion in the US. This was visible in the yields between three and five years, and between two and five years. It suggests that worries about an economic slowdown are becoming entrenched. Still, the Australian Dollar’s weakness against the greenback was also clear.

AUD/USD has now it seems failed to hold at the three-month highs seen late last month.

Australian Dollar Vs US Dollar, Daily Chart

Although its dominant uptrend still clearly endures, current price action suggests that that trend’s base will be tested either later this week or early next. Gold prices slipped back a little from its recent one-month highs while crude oil prices slid further on growth worries and signs of rising US supply.

There remains plenty of economic meat still to chew over on Wednesday’s bones. Purchasing Managers Indexes are coming up from various European countries, including France, Germany and the UK. The Bank of Canada will give its interest rate dispensation, with no change expected. From the US will come the non-manufacturing snapshot from the Institute for Supply Management and news of mortgage application levels. The employment survey from Automatic Data Processing is also due, along with crude oil inventories from the Department of Energy.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES

News & Analysis at your fingertips.