Australian Dollar Jumps After China’s Data Surprises

The Australian dollar jumped today as China released unexpectedly strong prices data, helping the currency of its trading partner.

China’s Consumer Price Index rose 1.9% in September from a year ago compared to the forecast increase of 1.6%. The Producer Price Index edged up 0.1% while forecasters had predicted a drop by 0.4%. China is the biggest trading partner of Australia, therefore its economic reports tend to have a big impact on the Australian currency.

AUD/USD rallied from 0.7567 to 0.7630 as of 12:43 GMT today. EUR/AUD crashed 1.3% from 1.4603 to 1.4417.

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