Expert's opinion from FXFinPro

Positive statistics from China has supported the Australian dollar

On Saturday in China was published important macroeconomic data, which today has managed to support the price of the Australian dollar. Thus, the volume of industrial production in the country has accelerated the pace of growth to 6.2% for the year, against 5.6% in the previous month. The volume of investment in fixed assets increased by 10.2% compared to the same period last year, which corresponds to October, retail sales grew by 11.2% against growth of 11.0% in October. It should be noted that China is a major consumer of Australian products and after stabilizing the situation in the economy, we are seeing a gradual improvement in the second largest economy in the world. In spite of this, we maintain a negative medium-term outlook for the Australian dollar with the objectives at 0,68-0,69.


More detailed analytics you can see at our site https://fxfinpro.com/en/analytics