Cookies help us deliver our services. By using our services, you agree to our use of cookies.
Learn more Got it
Dakar 2017
Roboforex is an official sponsor
of "Starikovich-Heskes Team"
at the Dakar 2017
Home / Analytics / Forex analysis & forecasts / Forex Fundamental analysis / The Australian Dollar couldn’t keep its momentum. Overview for 19.10.2016
Ask a question
Did not find the information you need? Ask your questions and get answers online!
Enter chat
Or enter your phone number in the form below and we will call you right away.
Call back

The Australian Dollar couldn’t keep its momentum. Overview for 19.10.2016

The complex statistics from China provided no support for the Aussie; the AUD/USD growth potential is limited.

On Wednesday morning, the Australian Dollar is falling in the pair with the USD, although it tried to continue yesterday’s rise during the Asian session. However, investors have no more strengths for buying. The current quote for the instrument is 0.7662.

The latest Chinese statistics was rather complicated. The country’s GDP in the third quarter added 1.8% q/q (+6.7% y/y), just as expected. When commenting this data, government officials said that the Chinese economic system continued its active development and the prospects were estimated as positive. On the one hand, it’s good, but the GDP rate growth is still not enough for implementation of China’s own tasks.

Retails sales in China in September increased by 10.7% y/y, which is better than the predicted number of 10.6% y/y. There were sold more cars and construction materials.

However, the industrial production last month increased only by 6.1% y/y – it’s worse than predicted and worse than the number in August (6.3% y/y).

It’s quite clear that China continues spending money at the national level, but the amount of investments are reducing as well as export numbers. Together, all this give us a rather complicated picture of reality. The way the Australian Dollar responds to such statistics is quite clear: if there are no conclusions at all, there will be no reason for joy.
RoboForex Analytical Department

Dear reader!

Without authorization, you can view no more than two reviews per day and no more than 10 per month. To continue reading analytical reviews, register or login to your Members Area.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.