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The Australian dollar sharply weakened

The AUD/USD on Friday weakened markedly against the background of a possible deterioration in the Chinese economy.

The Australian dollar on Friday has no luck. The AUD/USD is falling since the beginning of the Asian session, the current price in the instrument is 0.6876. Such a strong intraday fall in the pair has not been seen for nearly a month, since 17 December.

Investors pay attention to the facts of differences in valuations of the RMB outside the mainland and on the domestic market. The growth of offshore indicators may indicate the willingness of investors toward a new intervention by the NSC. The market is nervous, and it affects the currencies of neighboring countries.

Actually Australian statistics look good. According to the released data, the volume of mortgage lending in the country in November rose by 1.8% m/m. The components of the report show the rise in approved applications for housing loans. With everything else, the number of permits for new homes in Australia rose in November to 2.7%.

Mortgage lending on the background of the low RBA rate and probability of its further reduction, is really in demand. The real estate sector is able to give the economy some good support, taking into account the risks from China - Australia will find it very useful in the near future.
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