1st half of Monday: the Australian Dollar moves back to its levels. The current quote for AUD/USD is 0.7408. In the morning, China published a block of interesting statistics. As usual, Aussie is sensitive to such reports, China being a biggest commercial and economic partner for Australia. The reports published shown a rise of industrial production in China by 6.5% y/y (expected +7.0%, prior +7.6%). Fixed investments rose only by 8.9% y/y that month, and this value also fell short of the expectations. Retail Sailes rose by 10.7% y/y in March (expected 10.8%, February value 10.9% y/y).
At first sight such statistical data doesn't impress. However, one should bear in mind the overall situation and that China is having hard time recovering the rates of economic growth. If we do take into account the above factors, it is obvious that China develops its economy as usual though the rate of development is not smooth.
USD stability on the global currency market favors the Aussie. The Australian Dollar is recovering its levels after the hard April and the drawdown that sent the currency to its 4-month lows.