On Wednesday morning, AUDUSD is trading upwards in response to positive statistics from China.
The Australian Dollar is rising against the USD on Wednesday. The current quote for the instrument is 0.7870.
Today’s morning is full of macroeconomic reports and the Aussie responds to almost all of them. First of all, the statistics from Australia. The Westpac Consumer Sentiment added 0.2% in March after losing 2.3% in February.
Then came reports from China. The Industrial Production added 7.2% y/y in December after expanding by 6.2% y/y in November and against the same expected reading. The Retail Sales increased by 9.7% y/y in the same month, which is better than the November reading of +9.4% y/y, but worse than the expected number of +9.9 y/y.
This time, the Chinese statistics looks very positive and confirms that the country’s economy has been improving a little bit above the average. One should note that the numbers to be published next month may be worse due to long Lunar New Year holidays.