20 Jan 2014
AUD/USD rises back above 0.8800 after Chinese data
FXstreet.com (Córdoba) - The AUD/USD reacted to the upside to fresh economic data from China and climbed from 0.8779 to 0.8804 reaching a new daily high. Earlier in Asia the pair bottomed at 0.8755, the lowest price since July 18, 2010.
The National Bureau of Statistics in China reported that GDP grew at a rate of 7.7% during the fourth quarter, below the 7.8% of the third quarter, but barely above expectations of a 7.6%. Other data, included industrial production that rose in December 9.7% from the previous year, (slightly below the expected 9.8%) while retail sales climbed 13.6% as expected.
At the moment of writing, the AUD/USD is trading barely below 0.8797, up 0.29% for the day and headed toward the first daily gain since last Monday.
The National Bureau of Statistics in China reported that GDP grew at a rate of 7.7% during the fourth quarter, below the 7.8% of the third quarter, but barely above expectations of a 7.6%. Other data, included industrial production that rose in December 9.7% from the previous year, (slightly below the expected 9.8%) while retail sales climbed 13.6% as expected.
At the moment of writing, the AUD/USD is trading barely below 0.8797, up 0.29% for the day and headed toward the first daily gain since last Monday.