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Australian Dollar Mixed After Positive China’s GDP

April 17, 2019 at 20:08 by Vladimir Vyun

Australian coins and banknotesThe Australian dollar was mixed on Wednesday. The currency was flat against such rivals as the US dollar and the Japanese yen after swinging back and forth between gains and losses, fell versus the euro, but gained on the Swiss franc.

The National Bureau of Statistics of China reported that China’s gross domestic product rose 6.4% in the first quarter of 2019, year-on-year, demonstrating the same rate of growth as in the fourth quarter of 2018. Analysts had predicted a small slowdown to 6.3%. China is Australia’s biggest trading partner, therefore news from the Asian nation is extremely important to the Aussie.

As for domestic data, the six month annualized growth rate in the Westpac–Melbourne Institute Leading Index rose from –0.54% in February to –0.09% in March. Now, traders wait for release of an employment report on Thursday.

AUD/USD traded at about 0.7170 as of 19:54 GMT today, near the opening level of 0.7174. EUR/AUD gained from 1.5719 to 1.5755. AUD/JPY was flat at 80.35. AUD/CHF advanced from 0.7229 to 0.7245.

If you have any questions, comments, or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

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