Australian dollar lower on Chinese GDP print

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by Chris Becker

The Chinese GDP print has seen the Australian dollar fall back to the Friday night session lows at 71.50:

With Kiwi also falling:

But stocks are still well bid in response to the surge on Wall Street on Friday night, although the ASX200 is now treading water. Amid all the GDP prints – everything is bang on target as ordained, I mean expected – there was a flurry of retail sales, industrial production and FAI prints, all higher than expected.

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This has given Chinese stock markets a boost with the Shanghai Composite up 0.5% and the Hang Seng Index up the same.

Rounding out the Sino-onslaught of news and data, the PBOC has put in its latest Yuan fix, slightly weakening against the USD at 6.7774 from 6.7675. Offshore trading in Yuan is still hovering just under 6.80 after the rally of all things USD on Friday:

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