Skip to content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Aussie Dollar Unchanged as Chinese Industrial Profits Decline

Aussie Dollar Unchanged as Chinese Industrial Profits Decline

Bradley Kearns, Contributor

Talking Points:

  • The Aussie showed tepid reaction against the US Dollar
  • China’s Industrial Profits fell 8.8 percent in August
  • Soft Chinese print further validates its economic slowdown

The Australian Dollar showed a tepid reaction towards its US counterpart as soft Chinese Industrial Profits data crossed the wires. The negative 8.8 percent print is the largest decline in four years. That said, this is the third consecutive below zero reading for this barometer. The weak figure follows a series of worse than expected data from China. Last week the MNI Business Indicator, a gauge of the country’s economic health, posted its lowest reading since 2007 in regards to Chinese executives’ future expectations. The drop in China’s Industrial Profits adds further evidence of an economic slowdown.

Looking ahead in the week, Chinese PMI figures release on Thursday will tilt the scale of market sentiment to risk aversion or risk appetite. This figure will be watched extensively due to fears of a global slowdown. Lately , investors’ focus on the health of the world’s second-largest economy has been the driver of jitters in the market.

.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES