The Aussie dollar clawed back some lost ground over the past 24 hours managing to at least finish marginally ahead of where we were this time yesterday. AUD/USD is up around 25 basis points to 0.7560, while AUD/EUR is up a similar amount at 0.6729. Chinese industrial production is due at midday, with the figure tipped to rise ever so slightly to 6.2% from 6.00%. Looking at Chinese industrial production from a more macro stand point it would appear they’ve found a new normal rate of growth around that 6% mark where its been now for around two years.
DATA RELEASES TODAY:
CNY – Industrial Production at midday
GBP – CPI at 6.30pm
EUR – German Zew Economic Sentiment at 7.00pm
AUD EXCHANGE RATES:
AUD/USD – 0.7560
AUD/GBP – 0.5673
AUD/EUR – 0.6729
AUD/NZD – 1.0207
AUD/JPY – 77.006
***Above rates are indicative wholesale rates and intended as a guide only***
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Patrick Downes
Senior Corporate FX Dealer
Compass Markets
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