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.

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
Mixed
Oil - US Crude
Bearish
Wall Street
Mixed
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
Bullish
More View more
Real Time News
  • Commodities Update: As of 14:00, these are your best and worst performers based on the London trading schedule: Gold: -0.19% Oil - US Crude: -0.42% Silver: -0.92% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xwaTuPMuuU
  • DAX poised to make a run at new record highs soon. CAC eying a gap-fill from the massive Feb 2020 decline. Get your #DAX market update from @PaulRobinsonFX here:https://t.co/fi4OYwoY7T https://t.co/HL8gkW4i8w
  • $AUDUSD is rebounding today, currently trading back above the 0.7800 level. The pair hit a nearly three week low into the end of February, falling as low as 0.7700. $AUD $USD https://t.co/xD6HG17sos
  • Indices Update: As of 14:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.89% Germany 30: 0.68% France 40: 0.57% US 500: 0.08% Wall Street: 0.03% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/Gjrddj7wsN
  • The 1965-2000 support zone is key on $EURUSD from the weekly, working a bull flag with support around prior resistance. #NFP on Friday https://t.co/GBnw4F18Ju https://t.co/Y8W2hcNSQF
  • - OPEC+ panel sees stockpiles below 5yr average by August in base case - Sees stockpiles decline even if 2.4mln barrels per day are revived by June #OPEC #OOTT $OIL
  • - OPEC Sec-Gen says oil markets are improving, headwinds are abating - OPEC sees oil stocks dropping by about 400mln barrels in 2021 in latest supply and demand outlook #OPEC #OOTT $OIL
  • Another sign of speculative indulgence: not only is Google search surging worldwide for 'day trading', but 'penny stocks' interest is far outstripping anything in Google's data back to 2004: https://t.co/Y0huNWH3yA
  • OPEC President Azevedo: - Oil prices are relatively stable - There is a certain balance between supply and demand - Vaccinations set to increase demand further - New virus waves are still a threat - Pandemic and virus variants could put downward pressure on production #OOTT $OIL
  • $USDJPY is continuing to trade at multi-month highs today, currently trading around the 106.90 level for the first time since August. $USD $JPY https://t.co/lYaK01mCcx
Australian Dollar Spikes as China Retail, Industrial Figures Beat Forecasts

Australian Dollar Spikes as China Retail, Industrial Figures Beat Forecasts

David Cottle, Analyst

Australian Dollar, China Economic Data, Talking Points:

  • Chinese retail sales came in ahead of market hopes for last month
  • Industrial production did too
  • AUD/USD gained despite a morning of trade-deal doubts

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

The Australian Dollar got a Monday morning lift after data showed China’s retailers and industrial concerns enjoyed a better November.

Retail sales grew by an annualized rate of 8% according to official figures, topping both the 7.6% expected by the market and October’s 7.2% rise. Industrial production grew by 6.2%, handily topping the 5% gain forecast.

Investors had been worried about the effects of trade dispute with the US on both Chinese domestic demand and the health of its huge exporting manufacturing sector. While a single month’s data clearly won’t dispel these concerns, the market may draw a degree of comfort from both upticks which may at minimum suggest that stimulus from Beijing is at least having some effect.

Last week’s news that an interim trade deal had been reached with the US may also have investors looking with hope to the next set of these data.

The Australian Dollar can often act as the foreign exchange market’s top China proxy given Australia’s links to the Chinese economy.

It seems to have done so in this case with a firm bounce seen after the figures.

Australian Dollar Vs US Dollar, 5-Minute Chart

Still, on its daily chart the Australian Dollar has clearly returned some of the gains made last week on news that China and the US were ready to sign that phase-one trade accord. Doubts have grown since about just how substantive that deal can be, and whether a wide-ranging trade settlement will be possible.

Australian Dollar Vs US Dollar, DailY Chart

AUD/USD rose to highs not seen for nearly five months as trade news and a convincing win for the UK Conservative Party both helped to fuel risk appetite.

Still, the Aussie remains very short of domestic monetary policy support with interest rates at record lows and predicted to head lower still. Futures markets price in another quarter-point reduction in the 0.75% Official Cash Rate by May of next year, even if they seem very certain that the next monetary policy meeting of the Reserve Bank of Australia, in January, won’t produce a move.

Australian Dollar 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.

DISCLOSURES