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Aussie goes down notwithstanding solid Q3 GDP from China

On Wednesday, the Australian dollar traded steady to weaker, notwithstanding China posting that GDP growth during the third quarter matched expectations and overall economic performance turned to be much better than expected, thus aiding sentiment on better demand prospects in the world's number two economy.

The currency pair AUD/USD was worth 0.7664, descending 0.04%, while USD/JPY traded at 103.86, ascending 0.02%. Additionally, GBP/USD reached 1.2294, sinking 0.03%.

China posted the third quarter GDP with a quarter-on-quarter revenue of 1.8% meeting hopes along with a year-on-year tempo of 6.7% along with decent figures for industrial output, retail sales and fixed asset investment.

The US dollar index, measuring the greenback’s value against a trade-weighted basket of six crucial currencies, sank 0.08%, reaching 97.80.

Overnight, the greenback was little changed against other key currencies, hovering close to a seven-month high, following data showing that the cost of living in America ascended at the fastest pace for five months in September.

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