Saxo Group Videos

Hansen: China breathes fire into AUDUSD and commodities

The markets are looking a little calmer this Thursday after the Chinese stock market crash on Wednesday. Saxo's Ole Hansen on how China's state intervention appears to be adding some support to the markets.

First to FX and Hansen notes that the AUDUSD has benefited as iron ore prices recoverssome of their losses. On the other hand the Japanese Yen has weakened a little. Hansen also notes that the dovish FOMC minutes have helped EURUSD strengthen.

Industrial metals was the sector that was hardest hit by China's stock market crash. Copper is up 6% this Thursday. Oil prices too have recovered somewhat although all eyes are still on the Iran talks.

Precious metals have also been helped by the improvement in commodities in general, says Ole. But it's also those FOMC minutes that have added support to gold in particular. Ole though warns that the upside is probably still limited.

04:08 minutes
Tags: aud, aud strength, aud usd, audusd, audusd weakness, aussie, aussie dollar, aussie economy, aussiedollar, australia, australia economy, australian dollar, australian economy, australian reserve bank, brent, brent crude, brent geo-political, brent wti spread, china, china banks, china credit bubble, china economy, china economy growth, china gdp, china manufacturing, china outlook, china policy, china politics, china rates, china slowdown, china stock market, chinese, chinese economy, chinese yuan, commodites, commodities, commodities gold, commodities markets, commodities prices, commodities supply, commodities trading, commodity, commodity currencies, commodity gold, commodity index, commodity investing, commodity investments, commodity market, commodity markets, commodity outlook, commodity prices, commodity sector, commodity strategy, commodity trade, commodity trading, commoditymarket, copper, equities, equities trading, equity, equity bubble, equity index, equity market, equity markets, equity platform, equity portfolio, equity portfolios, equity research, equity strategy, equity trading, eu, eur, euro, euro area, euro dollar, euro zone, eurodollar, europe, europe growth, european, european central bank, european economy, european union, eurozone, eurozone crisis, eurozone economy, eurozone recovery, eurusd, fed, fed chair, fed chairman, fed chairwoman, fed meeting, fed minutes, fed news, fed policy, fed rate hike, federal, federal government, federal open market committee, federal policy meeting, federal reserve, federal reserve janet yellen, federal reserve rate, federal reserve rate hikes, federal rseserve, federalreserve, fomc, fomc meeting, foreign exchange, forex, forex buying, forex idea, forex market, forex market overview, forex markets, forex trading, forextrading, greece, greece bailout, greece crisis, greece debt, greece debt crisis, greece european union, greek, greek bailout, greek crisis, greek debt, greek economy, greek negotiations, greek talks, greexit, growth, investment, iron ore, jpy, jpy crosses, jpyusd, oil, oil commodities, oil industry, oil market, oil markets, oil price, oil prices, oil production, oil supplies, oil supply, oil trading, saxo bank, saxo tv, trading, tradingfloor.com, us, us dollar, us economy, us jobs, usa, usd, wti, wti and oil, wti crude, wti crude oil, wti price, wti supply, yen, yen falls, yen weakness

Switch to