The Australian dollar traded lower against the US dollar and the Japanese yen today after risk aversion hit the market following the release of mixed macroeconomic data from China over the weekend.
China’s industrial production rose 5.4% in January and February from a year ago, slower than the analysts’ prediction of 5.6%. Fixed investment was up 10.2%, beating the forecast of 9.5%. Retail sales also grew 10.2%, yet this indicator missed the average forecast level of growth (10.9%).
AUD/USD fell from 0.7547 to 0.7502 as of 15:01 GMT today after rising to 0.7593 intraday — the highest level since July 3. AUD/JPY was down from 85.98 to 85.33.
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