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Australian Dollar Down on Weak China Data - Is AUD/USD Ready to Breakout?
The risk-off sentiment from early Monday morning in Asia continued after the release of Chinese data that waslower than anticipated. The data showed the annualized July retail sales at 8.5% against 11.5% expected and annualized July industrial production at 6.4% compared to 7.8% expected. The house price index and fixed asset investment numbers also disappointed to the downside. This saw equity markets continue lower and the Australian Dollar come under pressure, while the Japanese Yen found support. Today’s data comes as there are growing concerns for trade in the region, with several Chinese ports being forced to ... (full story)