The AUD is growing, despite China
21.10.2014
The AUD/USD pair is trading with an upward trend for the second day in a row, ignoring the weak Chinese statistics.
The Australian dollar is trading upward this week. A temporary reduction in the level of market sympathies to the USD has a positive impact on the key traded currencies. Today, market participants even disregarded statistics from China - but that’s too bad.
The pace of China's economic growth in the third quarter of 2014 amounted to 7.3% y/y with the growth forecast at 7.2% y/y and the previous rise by 7.5 %.
As a result, the dynamics of China's GDP were the lowest since the beginning of 2009. However, according to local authorities, economic growth is still within acceptable limits.
Assume that this is the way it is. China's exports are in a bad shape because of weak external demand, including Europe and the United States. The Old World is unlikely to buy more than they do now in the perspective of next year - Europeans are still in a crisis. It turns out that the weak growth of the Chinese GDP is due to external causes rather than internal.
Industrial production in the third quarter in China is estimated at 8.5% growth. September retail sales were slightly weaker than expected, but remained above 11%.
Actually, a minimum deviation from the predicted values tends to cause a flurry of opinions about the Chinese market slowing down. But let me remind you that the official expectation for China's GDP for the current year is still 7.5% and no more.
RoboForex Analytical Department
The Australian dollar is trading upward this week. A temporary reduction in the level of market sympathies to the USD has a positive impact on the key traded currencies. Today, market participants even disregarded statistics from China - but that’s too bad.
The pace of China's economic growth in the third quarter of 2014 amounted to 7.3% y/y with the growth forecast at 7.2% y/y and the previous rise by 7.5 %.
As a result, the dynamics of China's GDP were the lowest since the beginning of 2009. However, according to local authorities, economic growth is still within acceptable limits.
Assume that this is the way it is. China's exports are in a bad shape because of weak external demand, including Europe and the United States. The Old World is unlikely to buy more than they do now in the perspective of next year - Europeans are still in a crisis. It turns out that the weak growth of the Chinese GDP is due to external causes rather than internal.
Industrial production in the third quarter in China is estimated at 8.5% growth. September retail sales were slightly weaker than expected, but remained above 11%.
Actually, a minimum deviation from the predicted values tends to cause a flurry of opinions about the Chinese market slowing down. But let me remind you that the official expectation for China's GDP for the current year is still 7.5% and no more.
RoboForex Analytical Department
Attention!
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.