wrapper

Aussie lower as Shanghai share market falls

Wednesday, Aug 19 2015
It is a steadier morning part of the session for Aussie with no major data releases. However, eyes are still on China after last week's devaluation of yuan. Shanghai share market fell more than 6% on Tuesday on worries than the Chinese government won’t intervene any further to prop up its share market or the economy. The development weighed heavily on base metals prices overnight.
 
LTG GoldRock director Andrew Barnett said China and the chance that the US Federal Reserve will make its first interest rate increase in nine years are bad news for the Australian dollar. FXCM chief currency strategist John Kicklighter said Tuesday’s six per cent fall in Chinese shares and Wednesday’s one per cent loss in early trade are weighing on the Australian dollar.“As Australia’s largest trade partner and one of the most important financial centers in the world, China’s next moves will fall right in the middle of most investors radars,” he said.
 
Aussie is currently being traded around 0.7330 area. Pair is likely to find support around 0.7270 level and resistance above 0.7380 area. Later today, in the US session, CPI figures and FOMC Meeting Minutes are scheduled for a release.
More in this category: « Housing Starts at the highest rate since October 2007 GDP growth for G20 likely to slow to 2.7% this year »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.