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.



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
Please try again
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
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 US Dollar has spiked up to a fresh September high this morning on the back of a really strong retail sales report out of the US. Get your market update from @JStanleyFX here:
  • US Dollar Price Action Setups: EUR/USD, GBP/USD, AUD/USD
  • Goldman Sachs upgrades Q3 GDP forecast to 4.5% from 3.5%
  • I will note that despite AMC announcing they would soon be accepting additional cryptocurrencies (including Litecoin) for purchases, $LTCUSD didn't even exhibit a fraction of its response to the fake Walmart news. Market learning its lesson or AMC seen as irrelevant? #Kodakmoment
  • While the S&P 500 is holding to a strict range above its 50-day SMA, volatility for the Dollar has picked up on retail sales. DailyFX's @JohnKicklighter discusses trade today and further out!
  • Canadian #Dollar Outlook: $USDCAD Breakout Imminent- #Loonie Levels -
  • S&P falling from resistance zone after another quick test at the 930 open could be one of those bearish engulf kind of days $SPX $SPY $ES
  • The members of the FOMC, as well as all elected officials, should be forced to put their investments into a blind trust. “If men were angels…” as Madison said.
  • @JohnKicklighter ah, right you are. They were far too hurried in 12 to be enjoying a show.
  • $EURJPY testing support from a long-term trendline projection, helping to cauterize the low for today
Australian Dollar Slide Halts As China PMI Holds Above 50 But Misses Forecast

Australian Dollar Slide Halts As China PMI Holds Above 50 But Misses Forecast

David Cottle, Analyst

Australian Dollar, Official China Purchasing Managers Index Talking Points:

  • The Australian Dollar’s slide was arrested by Chinese PMI data
  • Overall they were a strong set, even though manufacturing expansion came up short
  • The service sector has revived impressively from lockdown

The Australian Dollar’s Thursday slide was slowed by news that China’s economy continues to recover well from the ravages of coronavirus, even if not quite as well as expected on all counts.

The official April Purchasing Managers Index for the manufacturing sectors came in at 50.8, which was below both the 52.0 seen in March and the 51.0 expected. However, it was above the important 50 point and that seems to have been enough for the market.

In the logic of PMI data, it takes a reading above 50 to signify expansion. The manufacturing series hit a low of 35.7 in February, as coronavirus shuttered the economy, but has bounced back into expansion territory with astonishing speed.

The non-manufacturing print was strong too, coming in at 53.2, above expectations of 52.5. The two together gave a composite reading of 53.4, above the 53.0 seen in March.

Risk appetite was already under a bit of pressure Thursday thanks to reported comments from Donald Trump, in which he said he can ‘do a lot’ in terms of imposing consequences on China over the viral outbreak.

The Australian Dollar can act as the foreign exchange market’s favoured liquid proxy bet on China’s performance thanks to the strong raw material trade links between the two countries, with Chinese demand fuelling Australia’s mining and energy expansion.

It seems to have done so to a limited extent after this data, finding a foothold after slipping earlier in the session.

Australian Dollar Vs US Dollar, 5-Minute Chart

More broadly the Aussie has recovered markedly from its own March lows. Along with other growth-correlated assets it found comfort in the various programs put in place around the world to bolster credit markets in the face of the threat from coronavirus. Now it’s catching a further bid as many countries tiptoe out of their contagion-inspired lockdowns.

Australian Dollar Vs US Dollar, Daily Chart

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.