A flurry of data out of China yesterday failed to support any currency strength, even though their Gross Domestic Product (GDP) figures came out better than expected. Industrial Production and Fixed Asset Investment both fell below expectation and could have caused the weakness.
Australia’s Monetary Policy Meeting minutes were out early this morning and they doused any expectation of a rate cut before Christmas. The Global Dairy Trade (GDT) Price Index is out today and will hopefully highlight the current situation surrounding the nation’s commodities trade balance, something that has been in question since the downturn in demand from China.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.