China released a few macroeconomic indicators over the weekend, and all of them were bad. Yet this had little impact on the Forex market and did not prevent the Australian dollar from rallying.
China’s industrial production, retail sales, and fixed asset investment in April were not only below the March’s readings but also failed to meet market expectations. Usually, worse-than-expected data from China has a noticeable impact on currencies, the Aussie in particular. But this was not the case today as the market kept the risk-positive sentiment despite the news.
AUD/USD rallied from 0.7247 to 0.7295 as of 13:13 GMT today. AUD/JPY rose from 78.72 to 79.36.
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