News & Analysis at your fingertips.

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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • The market’s preferred ‘fear indicator’ shows a persistent uncertainty around the near future. What can our current conditions and history tell us what to expect from the #VIX through the final two months of the year?
  • #Stock market performance is considered an important predictor of the economic outlook. What else can it be used to project? #Elections2020
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here:
  • A #Euro reversal off technical downtrend resistance now risks a larger correction in price. Here are the levels that matter on the $EURUSD weekly chart. Get your #currencies update from @MBForex here:
  • We are days away from the US Presidential election and the markets are caught in the vortex. A contested outcome would raise serious volatility for the markets whereas a decisive outcome seems to support bullish $SPX and Dollar views from the market rank.
  • The future implications of the #Elections2020 may influence $AUDUSD following the #RBA and #Fed rate decisions as Congress struggles to pass another round of fiscal stimulus. Get your #currencies update from @DavidJSong here:
  • Gold prices declined in the aftermath of bearish technical cues, but a key zone of support was reinforced. $XAUUSD volatility risk is elevated ahead of the #Elections2020. Get your #metals update from @ddubrovskyFX here:
  • USD awakens, placing GBP/USD on the backfoot, while EUR/GBP cracks 0.90. Get your #currencies update from @JMcQueenFX here:
  • What are some factors impacting Euro’s forecast this quarter? Get your free forecast here:
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
AUD Wilts Again As China Data Fall Short, Local Job Figures Eyed

AUD Wilts Again As China Data Fall Short, Local Job Figures Eyed

2019-05-15 02:29:00
David Cottle, Analyst

Australian Dollar, China Retail Sales and Industrial Production Talking Points:

  • Chinese Industrial production rose well below expectations last month
  • Retail Sales missed forecasts considerably too
  • AUD/USD missed a step but was already under pressure

Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We’d love to have you along.

An Australian Dollar already suffering from US-China trade war fallout didn’t lose much more traction Wednesday when a raft of Chinese economic data came in weaker than forecast.

April industrial production rose 5.4% on the year, much worse than both the 6.5% markets hoped for and the previous month’s 8.5% gain. Retail sales rose 7.2% when investors were looking for 8.6%. Urban fixed asset investment rose 6.1%, just below the 6.4% forecast by economists.

These numbers will perhaps only feed the view that China’s economy is suffering more than the US at present from rising tensions and may spur further worries about capital flight from the world’s second largest national economy. The Australian Dollar can act as the financial markets’ favorite liquid proxy for Chinese performance. It may have done so to some extent on Wednesday after the data, but its slide was quite moderate.

The Australian Dollar was hardly popular before the numbers, however, and their release simply took it back toward the day’s early lows.

Australian Dollar Vs Japanese Yen, 5-minute Chart.

AUD/USD’s daily chart doesn’t make comfortable reading for the bulls though. As a growth-sensitive unit, the currency has been hit hard by worries about further breakdown in trade relations between the two global heavyweights of China and the US.

Moreover, while the Reserve Bank of Australia surprised many by declining to cut interest rates this month, futures markets still reckon that the record low Official Cash Rate of 1.50% will head yet lower. At present two quarter-point cuts are priced in over the coming eighteen months, with the first expected in July.

Australian Dollar Vs Japanese Yen, Daily Chart

AUD/USD has duly remained well below the downtrend line which has barred the way higher for much of the time since early 2018. As risk appetite has waned this month, the Aussie has approached 2019’s lows. Without a significant revival in global optimism a retest of these seems inevitable.

The market may be on hold, effectively, until Thursday though. Official Australian labor market figures will be released, with markets now well aware of the central bank’s special focus on these numbers when it comes to setting monetary policy.

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!

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