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10 Feb 2015
AUD/USD reverses initial reaction post Chinese CPI/PPI's
FXStreet (Guatemala) - AUD/USD has reversed post the initial offers on the Chinese data and is now currently trading at 0.7817 at time of writing with a high of 0.7824 and a low of 0.7790 in Asia.
We have had a series of data for Aussie traders to take note of. The first came in the form of the NAB's business climate and confidence in Australia's own economy, coupled with housing data. This on the whole was no shakes, with a slight improvement on both counts in respect to the expected numbers but certainly doesn't give a positive picture of the relevant features of the Australian economy.
Just recently, the Chinese data in the CPI and PPI's were released, all down vs expectations and that was hardly unexpected or a surprise due to lower energy prices for a start. The Aussie dropped from 0.7808 to 0.7792 in an instant but steadied sub the handle just shy of the trading days lows so far and has reversed its route and squeezed buy stops through into 0.7820's.
We have had a series of data for Aussie traders to take note of. The first came in the form of the NAB's business climate and confidence in Australia's own economy, coupled with housing data. This on the whole was no shakes, with a slight improvement on both counts in respect to the expected numbers but certainly doesn't give a positive picture of the relevant features of the Australian economy.
Just recently, the Chinese data in the CPI and PPI's were released, all down vs expectations and that was hardly unexpected or a surprise due to lower energy prices for a start. The Aussie dropped from 0.7808 to 0.7792 in an instant but steadied sub the handle just shy of the trading days lows so far and has reversed its route and squeezed buy stops through into 0.7820's.