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.

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
EUR/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
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.09%, while traders in US 500 are at opposite extremes with 71.47%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wjDLRsXmf6
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.82% Silver: 0.27% Gold: 0.21% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/kDr5Y0tgRI
  • 🇧🇷 Business Confidence (JUL) Actual: 47.6 Previous: 41.2 https://www.dailyfx.com/economic-calendar#2020-07-10
  • High beta currencies are among the underperformers with the Pound on the back foot. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/c2wNgduMlI https://t.co/PjnbvM4w7J
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.65% FTSE 100: 0.52% France 40: 0.50% Wall Street: -0.02% US 500: -0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/q6ROX6VkUm
  • $Gold and $SPX have both held support at key zones thus far. End of the first full week of Q3 - next week brings on earnings season. https://t.co/19q9npaHNr https://t.co/mdBa6W9vs9
  • Join @malkudsi 's live #webinar at 10:00 AM ET / 2:00 PM GMT to learn about the basics of technical analysis and how to incorporate it into your trading . Register here: https://t.co/wFAMspwUfD https://t.co/ldxvf2AJgm
  • 🇨🇦 Average Hourly Wages YoY (JUN) Actual: 6.8% Previous: 9.96% https://www.dailyfx.com/economic-calendar#2020-07-10
  • $USDCNH | Dollar-Yuan bouncing back above 7.0 as broader bullish trend holds. Meanwhile, the US looks to move forward with federal contract bans on doing business with Chinese tech companies that pose national security risk, and now news China state funds are liquidating stocks. https://t.co/cxkjeDaWqJ
  • 🇨🇦 Full Time Employment Chg (JUN) Actual: 488.1K Previous: 219.4K https://www.dailyfx.com/economic-calendar#2020-07-10
Australian Dollar Jumps as China PMI Data Tops Expectations

Australian Dollar Jumps as China PMI Data Tops Expectations

2019-11-01 01:45:00
Ilya Spivak, Head Strategist, APAC
Share:

CHINA PMI, AUSTRALIAN DOLLAR, ASX 200 - TALKING POINTS:

  • Australian Dollar, ASX 200 add to gains on upbeat China PMI data
  • Manufacturing-sector growth registers at the strongest in 20 months
  • Follow-through might be tepid as markets brace for US jobs report

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

The Australian Dollar jumped higher alongside the local ASX 200 stocks index as Caixin PMI data put Chinese manufacturing growth at a 20-month high. The index rose to 51.7 in October from 51.4 in the prior month, marking the fourth consecutive acceleration. Economists were penciling in a slowdown to 51.0 ahead of the release.

The rise added to gains already underway at the start of Friday’s trading session. The move higher is probably corrective following losses yesterday as worries about absent progress on US-China trade negotiations resurfaced. The East Asian giant is Australia’s largest trading partner, making economic conditions there a critical input for its own economic fortunes and that of its headline assets.

Australian Dollar vs US Dollar price chart - 5min

5min AUD/USD chart created with TradingView

The report revealed that new orders grew at the fastest pace since January 2013, supported by a pickup in export demand. Business confidence among the respondents polled about their outlook for the coming 12 months rose to the highest since April. Nevertheless, the survey cautioned that sentimentremained subdued in the context of historical data.”

Encouraging though that is – especially in the context of ongoing trade war – immediate follow-through might prove to be lackluster. Traders may be reluctant to commit one way or another as they await the release of October’s US labor market statistics. A steep drop in job creation is expected alongside a rise in the unemployment rate. That may cool any nascent optimism about an upturn in global growth.

FX 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

News & Analysis at your fingertips.