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
More View more
Real Time News
  • Please join @ddubrovskyFX at 20:00 EST/00:00 GMT for a webinar on what other traders' buy/sell bets say about price trends. Register here:
  • US Dollar Outlook: Fed Decision Due - Will it Spark Fireworks? The $DXY edged lower on Tuesday with $EURUSD, $GBPUSD, and $USDJPY all feeling Dollar weakness. Will the Fed catch markets off-guard with another hawkish surprise tomorrow? Link to Analysis -
  • Crude oil prices are trading largely unchanged following last week's rebound as the Delta variant of Covid and Chinese regulatory measures temper the near-term demand outlook. Get your market update from @FxWestwater here:
  • USD/JPY price action has weakened sharply on the session but is searching for support. Get your $USDJPY market update from @RichDvorakFX here:
  • RT @BrendanFaganFx: Nasdaq 100 Outlook: Stocks Decline Despite Stellar Tech Earnings, All Eyes Shift to Fed $AAPL $MSFT $GOOG $QQQ $NDX L…
  • $SPX put in for an impressive midday recovery this past session leaving a large lower wick. The scale of the lower wicks consistently larger than corrections off highs
  • 🇰🇷 Consumer Confidence (JUL) Actual: 103.2 Previous: 110.3
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.53% 🇬🇧GBP: 0.44% 🇨🇭CHF: 0.13% 🇦🇺AUD: -0.32% 🇨🇦CAD: -0.46% 🇳🇿NZD: -0.60% View the performance of all markets via
  • US API Stock Changes Crude -4.728M Cushing -0.126M Gasoline -6.226M Distillate -1.882M #OOTT $CL_F
  • RT @Nadex: The Macro Setup is back! Tune in as @GuyAdami, @RiskReversal, and special guest @CVecchioFX discuss: -Stocks lower ahead of big…
AUD/USD Bounce Continues Following Strong Chinese Trade Data

AUD/USD Bounce Continues Following Strong Chinese Trade Data

Brendan Fagan,

AUD/USD, Chinese Balance of Trade, PBOC Talking Points:

  • Chinese trade balance blows away expectations, coming in at $51.53 B vs. $44.2 B est.
  • China continues to worry about potential slowdown, easy monetary policy returns
  • AUD/USD looks to test 0.7500 despite COVID fears weighing on sentiment

Chinese export data blew expectations out of the water Tuesday morning, despite recent worries over a slowing domestic economy. Exports for June rose 32.2% (in USD) over the same period last year. The balance of trade for June came in at $51.53 billion, vs. a consensus estimate of $44.2 billion. For the first half of 2021, China reported a trade surplus with the United States of $164.92 billion. The trade surplus with the US for the month of June came in at $32.58 billion, up from $31.78 billion in the month of May. Despite recent price pressures and intervention from Beijing, China Customs said in a statement that imported inflation risks “remain manageable.”

DailyFX Economic Calendar

AUD/USD Bounce Continues Following Strong Chinese Trade Data

For more, click here.

The strong trade prints come when China is easing monetary conditions to stave off an economic slowdown. Just last week, the People’s Bank of China (PBOC) announced that it would cut reserve requirement ratios by 0.5% for banks, with the policy taking effect on July 15. China was the only major economic power to post positive GDP growth in 2020 as coronavirus ravaged the world. But as countries around the globe prepare to tighten policy, the PBOC is now showing a cautious approach. You can read more about the state of the APAC region here.

AUD/USD Daily Chart

AUD/USD Bounce Continues Following Strong Chinese Trade Data

Chart created with TradingView

AUD/USD has been under pressure of late following renewed virus fears in Australia, along with Federal Reserve hawkishness. The Australian Dollar may potentially have bottomed following a test of September 2020’s swing high at 0.7413. Currently AUD/USD remains below the key 0.5% Fibonacci level at 0.7499, having failed to materially break above during the last few sessions. With virus fears in Australia growing, the Australian Dollar may continue to consolidate near its 2021 lows until the fundamental outlook in Australia improves.

--- Written by Brendan Fagan, Intern for DailyFX

To contact Brendan, use the comments section below or @BrendanFaganFX on Twitter

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