I follow the price like a shadow.
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Australian Dollar Touches Session Lows on China Data Miss - Will AUD/USD Fall More?
AUD/USD moved lower as Chinese year-on-year retail sales came in at 2.5% versus the 7.0% forecast and last month’s 8.5%. Industrial production printed at 5.3% against an expected 5.8% and prior 6.4%. Today’s numbers come against the backdrop of disappointing China PMI data from a fortnight ago. The data has added to already negative sentiment for risk assets in Asia with most equity indices trading in the red. The Chinese Communist Party continues to implement its ‘shared prosperity’ policy which has weighed on Chinese equity markets as many sectors are forced to re-adjust to a new set of regulations. Prior ... (full story)