The AUD/USD pair is growing on Friday and trying to eliminate its fiasco in the middle of the week.
On Friday afternoon, the Australian Dollar is moving to the upside in the pair with the USD. The current quote for the instrument is 0.7622.
As a matter of fact, no Australian statistics was published, but today’s macroeconomic calendar featured some reports from China. The Aussie usually reacts to this data, because China is Australia’s main trade economic partner.
The PPI in China in September added 0.1% y/y, and it’s the first time the indicator increased over the last five years. Before that, the number had been falling for 54 consecutive months without any pauses. This is why the Australian and Chinese currencies and assets received such significant support.
Other report from China, the CPI added 1.9% y/y last month after increasing by 1.3% y/y in August. This data was also received very well. In general, today’s reports were able to eliminate come pressure caused by the Chinese statistics regarding the country’s balance of trade published the day before. The report said that in September the surplus reduced up to 41.99 billion USD after the number of 52.05 billion USD in August.
Next week, China will publish several more statistical reports, including the GDP over the third quarter. So far, forecast are rather conservative and predict the increase of 6/7% y/y. Any deviation from these expectations will surely influence currencies and assets.
RoboForex Analytical Department
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