CHART OF THE DAY: The Aussie Dollar Is Down At A Three-And-A-Half Year Low

Markets are having a very big Risk Off move overnight with the Dow down more than 200 points, the SPI 200 is down sharply in futures trade, gold is up through $1260 oz and US 10-years rates are down 10 points.

The big story – or the excuse – is the HSBC Chinese PMI yesterday which showed Chinese manufacturing back in contraction zone.

As a result the Aussie dollar, traders’ favourite global growth trade, fell to 0.8730 overnight, its lowest level since July 2010.

Has the AUD finally found some support? Chart – VantageFX

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at

Tagged In