The AUD/USD pair continues strengthening based on the Chinese statistics.
The Australian Dollar is feeling pretty well against the USD on Wednesday morning. The current quote for the instrument is 0.7557.
The Industrial Production in China expanded by 6.5% y/y in April, the same as in March, although it was expected to add 6.4% y/y. The components of the report show that the steel production increased by 4.4% y/y, mostly at the end of spring.
The Fixed Asset Investment in April added 8.6% y/y against 8.9% y/y the month before and expectations of 8.8% y/y. The Retail Sales expanded by 10.7% y/y, the same as in the previous month.
Overall, the statistics was pretty good, because the fast growth of the industrial production may undermine the inflation and, as a result, make the Central Bank take fiscal measures.
By the noontime, the AUD/USD pair activity may decrease, but in the evening, when the USA Fed meeting is over and investors receive additional drivers, the instrument may resume its movements.
RoboForex Analytical Department