Australian Dollar Drops As China's Dalian Port Bans Australian Coal Imports
20 Febrero 2019 - 8:41PM
RTTF2
The Australian dollar slipped against its major counterparts in
the Asian session on Thursday, following a media report that
China's Dalian port has prohibited imports of Australian coal and
has put a cap on 2019 coal imports at 12 million tonnes.
Reuters news agency reported that Australia's coal imports has
been banned at northern Dalian port, effective since the start of
February.
Five harbours controlled by Dalian customs, namely Dalian,
Bayuquan, Panjin, Dandong and Beiliang will not allow the clearance
of Australian coal through customs.
Data the Australian Bureau of Statistics showed that Australia's
unemployment rate came in at a seasonally adjusted 5.0 percent in
January - unchanged and in line with expectations.
The Australian economy added 31,900 jobs last month - blowing
away forecasts for an increase of 15,000 jobs following the gain of
16,900 jobs in December.
The aussie dropped to a 2-day low of 1.0398 versus the kiwi,
from an 8-day high of 1.0488 hit at 7:30 pm ET. The aussie is
likely to challenge support around the 1.02 area.
The aussie declined to an 11-day low of 1.5989 against the euro,
after rising to more than a 2-week high of 1.5743 at 7:30 pm ET. If
the aussie falls further, 1.62 is likely seen as its next support
level.
The Australian currency weakened to 0.9356 versus the loonie,
its lowest level since January 3. This follows more than a 2-week
high of 0.9488 touched at 7:30 pm ET. On the downside, 0.92 is
possibly seen the next support level for the aussie.
Having advanced to more than a 2-week high of 0.7207 against the
greenback at 7:30 pm ET, the aussie reversed direction and dropped
to a 6-day low of 0.7086. The next key support for the aussie is
seen around the 0.69 mark.
The aussie slipped to a 6-day low of 78.44 against the yen,
reversing from more than a 2-week high of 79.82 seen at 7:30 pm ET.
The aussie is poised to find support around the 77.00 area.
The latest survey from Nikkei showed that Japan manufacturing
sector slipped into contraction in February, with a 32-month low
manufacturing PMI score of 48.5.
That's down from 50.3 in January, and it sinks beneath the
boom-or-bust line of 50 that separates expansion from
contraction.
Looking ahead, PMIs from major European economies and U.K.
public sector finance data for January are due in the European
session.
At 7:30 am ET, the European Central Bank will release minutes
from the January 23-24 meeting.
In the New York session, Canada wholesale sales and U.S. durable
goods orders for December, weekly jobless claims for the week ended
February 16, U.S. existing home sales and leading indicator for
January are scheduled for release.
At 12:35 pm ET, the Bank of Canada Governor Stephen Poloz will
deliver speech about monetary policy at the Chamber of Commerce of
Metropolitan Montreal.
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