Aussie goes down on disappointing China data
On Friday, the Australian dollar sagged on gloomy data out of key trading partner China on industrial output, retail sales as well as fixed-asset investment.
China’s fixed-asset investment for July soared 8.1%, below a pace of 8.8% observed year-on-year, while industrial production acquired 6.0%, also below an expected at 6.1% year-on-year revenue, while retail sales headed north 10.2% under the expected up 10.5% year-on-year growth observed.
The currency pair AUD/USD traded down 0.26%, hitting 0.7190, while USD/JPY was worth 102.15, up 0.19%.
Earlier, in New Zealand, the Business NZ PMI tumbled to 55.8 for July, sagging from a previous reading of 57.7. Moreover, core retail sales for the second quarter leapt 2.6%, better than the quarter-on-quarter reading observed up 1.1%. As for full retail sales, they spiked too, approximately up 2.3%, compared to a 0.9% quarter-on-quarter revenue observed and an annual pace of 6.0%, thus outpacing the 4.9% expected from the same quarter a year ago.
The currency pair NZD/USD hit 0.7195, showing a 0.21% sag after of the figures and also a statement that the major bank would delay measures just to curb house loans.