Abstract:AUD/USD trims intraday losses but fails to stay above 0.7700. China’s Q4 GDP, December Industrial Production improve but Retail Sales eases. Risk dwindles amid cautious sentiment ahead of new government in the US, virus woes. Off in America, light calendar elsewhere may challenge momentum traders.
AUD/USD wavers around 0.7700 following mixed data releases from China during early Monday. The quote initially pierced the 0.7700 threshold while cheering upbeat GDP and Industrial Production data from the largest customer but couldnt ignore weaker than expected Retail Sales. Also challenging the quote could be risk-off mood and the US dollar strength.
Chinas fourth-quarter (Q4) GDP grew from 6.1% to 6.5% YoY but eased on QoQ basis to 2.6% versus 3.2% forecast and 2.7% prior. Further, Industrial Production for December rose past-6.9% expected to 7.3% YoY whereas Retail Sales dropped below 5.0% previous readouts and 5.5% market consensus.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
We are pleased to announce that STARTRADER will launch new products on April 22nd, 2024 to provide clients with a broader portfolio of products.
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming April holidays.
Please be advised that the following CFD instruments will be automatically rolled over as per the dates in the table below. As there can be a pricing difference between old and new futures contracts, we recommend clients to monitor their positions closely and manage positions accordingly.
Please be advised that the following instruments' trading hours and market session times will be affected by the upcoming April holidays.