Article By RoboForex.com
On Tuesday afternoon, AUDUSD is trading downwards; the statistics from China left the Aussie no chances.
The Australian Dollar resume falling against the USD on Tuesday. The current quote for the instrument is 0.7516.
In the morning, the RBA’s latest Meeting Minutes report was published. The document says that the next step of the regulator’s monetary policy will rather be increasing the benchmark rate than decreasing it. Right now, the RBA sees no reasons to tighten its policy in the nearest future. When it comes to the inflation, the regulator’s members agree that it will growth slowly and steadily. The same applies to the labor market.
In general, the report provided no surprises and the Aussie might remain neutral if it hadn’t been for the Chinese statistics. The Retail Sales in China added only 9.4% y/y in April after expanding by 10.1% y/y in March and against the expected reading of +10.0% y/y.
The report on the Industrial Production in April was more positive, but couldn’t make things better. The indicator increased by 7.0% y/y after adding 6.0% y/y the month before and against the expected reading of +6.4% y/y.
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Macroeconomic indicators from China are very important for the Aussie, because this country is Australia’s main trade and economic partner.
RoboForex Analytical Department
Article By RoboForex.com
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