China’s Economy Benefits Australia’s Dollar
The Australian dollar gained today after the government reports showed that China’s economic growth accelerated and stocks jumped, increasing appeal of
The MSCI Asia Pacific Index of shares rose 1.1 percent after falling 0.2 percent. The Stoxx Europe 600 index advanced 0.8 percent. The gains can be limited after China National Radio said today that the nation may boost borrowing costs this month as the inflation is going to increase even more. China is the biggest trading partner of Australia.
AUD/USD rose to 1.0643 from 1.0601 today as of 11:52 GMT after earlier it fell to 1.0567. EUR/AUD dropped to 1.3560 from 1.3590.
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Earlier News About the Australian Dollar:
- Australian Dollar Retreats on Low Employment Growth (2011-06-09)
- Australian Dollar Falls on Concerns for Economic Growth (2011-06-08)
- Australian Dollar Erases Gains as RBA Holds Rates (2011-06-07)
- Australian Dollar Gets Boost from Carry Traders (2011-06-06)
- Australian Dollar Weakens on GDP & Trade Balance (2011-06-02)