The Aussie got support from China. Overview for 17.04.2019

On Wednesday morning, AUDUSD is significantly rising thanks to the statistics. 

The Australian Dollar is growing against the USD on Wednesday morning. The current quote for the instrument is 0.7199.

In the morning, Australia published the MI Leading Index for February, which added 0.2% m/m after remaining unchanged in January. The indicator provides average values of how the country’s economy might be in the next 3-6 months, so any increase is always considered as positive. 

China also published several reports. First of all, it was the GDP for the first, which expanded by 6.4% q/q against the expected reading of +6.3% q/q. 

The second report, the Industrial Production expanded significantly in March, by 8.5% y/y after adding 5.3% y/y in February and against the expected reading of +5.6% y/y. In a way, this sound growth may be explained by long holidays in the previous month. The Retail Sales added 8.7% y/y after increasing by 8.2% the month before. The Unemployment Rate dropped down to 5.2% after being 5.3% in February. 

Taken together, these numbers indicate that the Chinese economy is not going to slowdown as there some signs of stability. It’s a good sign for the global economy, markets, and, of course, the Aussie.