The australian dollar declined after the figures in China
Investing.com – The australian dollar depreciated against the dollar following the publication Monday of a series of data on China.
The chinese economy grew 6.7% in the second quarter, its slowest pace since 2016, although growth is still higher than the government’s target of a growth of about 6.5% for the year.
While the official GDP figures were largely in line with the market forecasts, the country’s industrial production rose 6% in June compared to the previous year, which was below forecasts of a 6.5% increase. The weakness in industrial production has been cited as the catalyst for the sale of the australian dollar.
The pair AUD / USD is trading at 0.7412 at 12:30 AM (04:30 GMT), after reaching a high of 0.7436 today.
On the other hand, retail Sales grew by 9% year-on-year in June, exceeding the general consensus of an increase of 8.8%, although its impact on currency markets has been limited.
Elsewhere, the USD / CNY slipped 0.03% to 6,6889. The people’s Bank of China (PBOC) fixed the reference rate for the yuan to 6.6758 Monday against the auction of Friday 6.6727.
The dollar index, which tracks the greenback against a basket of other currencies, was down 0.03% to 94,41 Monday.
The yen was little changed as the USD / JPY pair rose slightly by 0.03% to 112,45, retreating after reaching a high of six months of 112,79 Friday.
The summit, the american president Donald Trump with his Russian counterpart in Helsinki later in the day will also be monitored closely, while Trump has downplayed expectations this weekend for the next negotiations.
“Regardless of how I’m going to the summit, if you gave me the great city of Moscow in retaliation for all the sins and evils committed by Russia in the course of the years, I would continue to say that this is not enough,” Trump said in a series of tweets.