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
GBP/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
USD/JPY
Bullish
Gold
Bullish
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
  • 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/DBuSOfIhQY
  • US Dollar Forecast: USD/MYR Reversal as USD/PHP Tests 2013 Support #USD $USDMYR $USDPHP - https://www.dailyfx.com/forex/technical/article/special_report/2019/10/18/US-Dollar-Forecast-USDMYR-Reversal-as-USDPHP-Tests-2013-Support.html?CHID=9&QPID=917702 https://t.co/VfFPJhPX31
  • Negative yielding government bonds – What are they telling us? Find out from @nickcawley1 here: https://t.co/F6JuhmrvPT https://t.co/aqWMzoZRrk
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.68%, while traders in France 40 are at opposite extremes with 80.94%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/CFFN6tgMXb
  • #GBPUSD Testing Five-Year Resistance: Breakout Ahead? https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2019/10/18/GBPUSD-Testing-Five-Year-Resistance-Breakout-Ahead.html
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.42% 🇦🇺AUD: 0.12% 🇯🇵JPY: 0.10% 🇪🇺EUR: 0.03% 🇨🇦CAD: 0.00% 🇬🇧GBP: -0.31% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/i1K0L7cDfA
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.09% US 500: -0.13% France 40: -0.31% Germany 30: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/ly8aOm0jV8
  • Have you joined @DailyFX @facebook group yet? Discuss your #forex strategies and brush up on your skills with us here: https://t.co/jtY1G7g8yx https://t.co/taFcP1Ge44
  • RT @markets: Reserve Bank watchers consider the options for Australian QE and how it would impact markets https://t.co/9gYZgZXeE5
  • The $USD may extend its climb versus the Indian Rupee, but can it overturn weakness against the Singapore Dollar? $USDIDR and $USDPHP attempt breaking above resistance once more. Get your market update from @ddubrovskyFX here: https://t.co/bCb8Ddcsa5 https://t.co/39mmYjC8Tb
AUD/USD Edges Lower on Soft Chinese Industrial Production Data

AUD/USD Edges Lower on Soft Chinese Industrial Production Data

2019-03-14 02:30:00
Dimitri Zabelin, Junior Currency Analyst
Share:

AUD TALKING POINTS – AUD/USD, CHINA INDUSTRIAL PRODUCTION, RBA

  • AUD/USD falls on soft Chinese industrial data
  • Will slower China growth push RBA to cut rates?
  • Global risk likely to continue weighing on Aussie

See our free guide to learn how to use economic news in your trading strategy!

AUD/USD fell to a session low following the release of underperforming year-on-year Chinese industrial production for February. The report came in at 5.3 percent and missed the 5.6 forecast, subsequently leading the Aussie to slide. Other data that was released included retail sales, the jobless rate and property investment, though they didn’t appear to significantly influence the Australian Dollar’s movement.

AUD/USD – 5-Minute Chart

AUD/USD Edges Lower on Soft Chinese Industrial Production Data

Slower growth in China will likely to continue to weigh on the sentiment-linked Aussie, not least because China is Australia’s largest trading partner. While headlines over the trade conflict between Beijing and Washington have become increasingly less of a concern relative to other immediate event risk, the fragile relationship between the two may still weigh on bullish sentiment for AUD.

Adding general doubts about Aussie’s strength, RBA governor Philip Lowe recently stated that there is no strong case for near-term adjustment in rates. Despite initially planning to raise them as their next move, the outlook has shifted to be more “balanced” with overnight index swaps pricing in a higher probability of a cut over a hike. This comes as housing prices deflated and may begin to impact consumer spending, potentially undercutting a viable reason for raising rates.

Looking ahead, Aussie traders may be monitoring China’s upcoming home prices data scheduled for March 15. Because the economic docket remains relatively light for the rest of the week, it is possible the Australian Dollar’s price movement will be dictated more by external developments. These include US-China trade relations, the upcoming Brexit vote and indications on the direction of global growth.

FX TRADING RESOURCES

--- Written by Dimitri Zabelin, Jr Currency Analyst for DailyFX.com

To contact Dimitri, use the comments section below or @ZabelinDimitrion Twitter

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

DISCLOSURES

News & Analysis at your fingertips.