DJIA21892.69
LIVE-434.79(-1.95%)
NDX7808.49
LIVE-80.52(-1.02%)

AUD/USD Keeps Gains After Big Beat on China Inflation Data


Monday, 10 February 2020 09:14 WIB

Dollar Australia,AUD,AUD/USD,


c_740_198_16777215_00_images_assets_CURRENCY3_00Australian-dollar-versus-USD.jpg

AUD/USD continues to trade in the green following a better-than-expected China inflation data for the month of January

China's inflation, as represented by the consumer price index (CPI), rose 1.4% month-on-month in January, beating the estimate of 0.8% and up from December's unchanged reading. The annualized reading came in at 5.4%, beating the expectations for a 4.9% rise.

Meanwhile, factory-gate inflation or producer price index rose 0.1% as expected, following December's 0.5% slide.

With CPI rising, the PBOC and the government may have a tough time countering the coronavirus-led slowdown with aggressive stimulus measures.

Even so, the AUD/USD is holding on to the gains seen in early Asia and could rise further, as the factory-gate inflation bettered estimates. The currency pair rose from 0.6665 to 0.6680 ahead of the data release and is now trading at 0.6685.

The Aussie dollar seems to have risen from 0.6665, tracking the recovery in the S&P 500 futures, which are currently trading largely unchanged on the day, having dropped by 0.5% in early Asia.

On Friday, AUD/USD fell to 0.6658, the lowest since 2009, as the dollar picked up a bid on the back of a strong US Nonfarm payrolls figure. At the same time, the news of the rising number of infections overshadowed the jobs data and kept equities under pressure, adding to the bearish tone around the AUD.

Source : FX Street


RELATED NEWS

  • The dollar is back in demand Monday as hopes of an early end to the shutdown which has paralysed the U.S. economy were dashed over the weekend, prompting some traders to head back to the greenback saf...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.