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Australian Dollar Gains as China Data Hints at Wait-and-See RBA Policy – DailyFX
The Australian Dollar surged back above the 0.73 level as Chinese industrial production and retail sales data exceeded expectations.
Chinese Retail Sales, Industrial Production, Trade Tensions, AUD/USD, RBA Talking Points:
- Better-than-expected Chinese retail sales and industrial production figures for August fueled the Australian Dollars surge back above the 0.73 level.
- Escalating Australia-China trade tensions could hamper AUD in the near term.
- RBA flagging additional monetary measures may cap AUD/USD rates.
The Australian Dollar stormed back above the psychologically imposing 0.73 level …
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