The Australian dollar fell against its most traded peers today even though relatively decent economic data released from China should have been supportive for Australia’s currency.
The National Bureau of Statistics of China released a report today, summarizing 2016. While some indicators for the fourth quarter were worse than expected (industrial production) and some were better (gross domestic product), basically all figures were close to forecasts and did not provide significant surprises. Saying that, some analysts pointed out that economic growth for the whole year was the slowest since 1990, though stayed in the government’s target range.
AUD/USD slid from 0.7559 to 0.7546 as of 14:10 GMT today. EUR/AUD rose from 1.4098 to 1.4118.
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