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. See our updated Privacy Policy here.

0

Notifications

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

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
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
More View more
Real Time News
  • it's a big week for $TSLA stock last week it gave up the trendline that's been in-play since last August This week, opening at the 38.2% retracement of the 2020/21 rally https://t.co/cUThTeLFN8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.11%, while traders in Germany 30 are at opposite extremes with 74.44%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lyppug4pkN
  • LIVE NOW: Join Technical Strategist @MBForex for his Weekly Strategy Webinar to review the setups we're tracking into the weekly open! https://t.co/chKtG7ezG9
  • What are some trading takeaways from 2020, as we jump into 2021? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/aRwDcR3vTc
  • Weekly Strategy Webinar starting in 15mins on DailyFX! https://t.co/lxd5fZnn4H
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.14% 🇪🇺EUR: -0.02% 🇨🇭CHF: -0.05% 🇨🇦CAD: -0.17% 🇦🇺AUD: -0.52% 🇳🇿NZD: -0.78% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/PBWIlTgB2d
  • $Gold another fresh 3 month high getting closer and closer to the big test. Bull flag resistance confluent with fibo zone, just ahead https://t.co/N1tUmUKBIa
  • Please join @MBForex at 8:30 EST/12:30 GMT for your weekly scalping webinar. Register here: https://t.co/fnmiAygMWK https://t.co/HNKulK5xoL
  • Heads Up:🇧🇷 BCB Focus Market Readout due at 11:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-17
  • $USDCAD at a massive level as it challenges the neckline of a Double Top formation carved out over the past 4 years A weekly close below the psychologically pivotal 1.2000 handle could pave the way for prices to tumble towards parity in the coming months $CAD https://t.co/hcqat64uhY
Australian Dollar Firm After China GDP Miss But Trend Aims Lower

Australian Dollar Firm After China GDP Miss But Trend Aims Lower

Ilya Spivak, Head Strategist, APAC

CHINA, GDP, TRADE WAR, AUSTRALIAN DOLLAR - TALKING POINTS:

  • 3Q Chinese GDP registers narrowly worse than expected at 6.0% y/y
  • Industrial production data, US trade talks may have offset the headline
  • Australian Dollar little-changed but overall trend still pointing lower

Where will markets end 2019? See our Q4 forecasts for currencies, commodities and stock indexes!

The Australian Dollar found little of interest in mildly disappointing Chinese GDP data. The figures put the on-year growth rate at 6 percent, a hair lower than the 6.1 percent expected by economists. Nevertheless, this marks the slowest pace of expansion in at least 27 years.

Upbeat industrial production readings might have helped offset a soggy headline figure. The rate of on-year growth unexpectedly jumped to a three-month high of 5.8 percent. Early signs of stabilization in retail sales figures may have helped as well.

The report’s limited implications for larger macro themes dominating investors’ attention may likewise explain the tepid response. Extrapolating a view on future Chinese growth seems nearly impossible without greater clarity on trade negotiations with the US, making today’s release appear somewhat moot.

Australian Dollar vs US Dollar price chart - 1 minute

1-minute AUD/USD chart created with TradingView

Assessing the broader landscape, choppy AUD/USD consolidation since early August leaves firmly intact a well-defined downtrend established from late December 2018. Prevailing monetary policy trends suggest it is likely to continue, with longer-term charts setting the stage for deep losses in the months ahead.

Australian Dollar Firm After China GDP Miss But Trend Aims Lower

Daily AUD/USD chart created with TradingView

AUD/USD TRADING RESOURCES

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To contact Ilya, use the comments section below or @IlyaSpivak on Twitter

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

DISCLOSURES