The Australian Dollar is growing at the beginning of the week. Overview for 17.04.2017

The AUD/USD pair started the new April week with a growth being influenced by the Chinese statistics.

The Australian Dollar is growing against the USD on Monday afternoon. The current quote for the instrument is 0.7589.

There was no statistics from Australia today, but China published several reports. The Chinese GDP in the first quarter of 2017 added 6.9% y/y against the expected reading of 6.8% y/y. On QoQ, the indicator expanded by 1.3% against the previous number of 1.7%. The basis for the GDP was the Industrial Production report, which, in its turn, is based on demand and financial solvency.

The Fixed Asset Investment in March added 9.2% y/y against the expected number of 8.8% y/y. The Industrial Production added 7.6% y/y, although it was expected to expand only by 6.2% y/y.

Another report was skyrocketing. The Retail Sales in the country expanded by 10.9% y/y in February. Expectations and the previous number were +9.7% y/y and +9.5% y/y respectively.

As usual, the stronger the Chinese reports, the better for the Aussie: China has been and will remain Australia’s major strategic partners

RoboForex Analytical Department