Aussie Weakened by Chinese Industrial Production, Losses Limited
The Australian dollar fell against its US counterpart as China’s industrial production demonstrated the slowest start of a year since 2009. The Aussie almost erased its gains versus the greenback as of now and advanced against the Japanese yen.
Chinese industrial output increase 9.9 percent in the first two months from a year ago, according to the National Bureau of Statistics. Analysts have hoped for an increased by 10.4 percent. The Australian currency dipped on this report, but the losses were limited as this week’s macroeconomic data from the United States is expected to be good, improving the mood of Forex traders and making them more willing to buy currencies with higher yield.
AUD/USD fell from 1.0235 to 1.0202, but bounced to 1.0228 as of 13:30 GMT today. AUD/JPY went up from 97.31 to 98.32.
If you have any questions, comments or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.
Earlier News About the Australian Dollar:
- AUD/USD Falls on Chinese Trade Balance, AUD/JPY Extends Rally (2013-03-08)
- AUD Rallies Even as Trade Gap Unexpectedly Widens (2013-03-07)
- Growing Australian Economy Makes AUD More Appealing (2013-03-06)
- Retail Sales & RBA Monetary Decision Boost Australian Dollar (2013-03-05)
- Australian Dollar Suffers Both from Domestic & Overseas Reports (2013-03-04)