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
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
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
Wall Street
Bullish
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
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
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
  • “Google’s Fitbit deal has encountered some legal friction in the EU. How will Europe’s stance on digital sovereignty impact the #Euro? Get your market update from @ZabelinDimitri’s here: https://t.co/Etz3MCuhQC https://t.co/oMaeQGUqqY
  • Trump says considering term-limited suspension of payroll tax - BBG
  • RT @FxWestwater: #SP500 Outlook: Options Traders Positioned for New All-Time High w/ @RichDvorakFX via @DailyFX $SPX https://t.co/8WkV…
  • Fed's Mester says there is not much support for going negative on rates - BBG
  • The Pound Sterling could continue its bullish trend if the Bank of England defers NIRP remarks. Get your $GBP market update from @RichDvorakFX here:https://t.co/0qVLWRjqIm https://t.co/IbRF1eBx1w
  • 🇧🇷 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2.25% https://www.dailyfx.com/economic-calendar#2020-08-05
  • White House Chief of Staff Meadows says talks done for the day on stimulus, no consensus reached- BBG
  • Fed's Mester: - More stimulus can be available from forward guidance and bond buying - Downside risks increased from recent virus uptick - BBG
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.54% 🇪🇺EUR: 0.52% 🇦🇺AUD: 0.43% 🇳🇿NZD: 0.38% 🇬🇧GBP: 0.32% 🇯🇵JPY: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/gewmUIxsEK
  • The USD is approaching the 92.50 zone, which helped to hold the lows last week. Support or a reversal here puts AUD/USD in an interesting spot for reversals. Get your $USD technical analysis from @JStanleyFX here: https://t.co/mDGCXV26Q7 https://t.co/eAL5wzC3wi
Australian Dollar Spikes as China Retail, Industrial Figures Beat Forecasts

Australian Dollar Spikes as China Retail, Industrial Figures Beat Forecasts

2019-12-16 01:28:00
David Cottle, Analyst
Share:

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

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.