Australian Dollar Falls as Chinese GDP Misses Expectations
- AUD/USD declines after Chinese fourth quarter GDP
- China’s economy grew 6.8% y/y versus 6.9% expected
- Ongoing growth slowdown fears likely fueled risk aversion
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The Australian Dollar declined against its US counterpart after China’s fourth quarter GDP figures crossed the wires. The world’s second largest economy grew 6.8 percent year over year in the end of 2015, missing the 6.9 percent analysts’ expectations. On a quarterly basis, the nation’s economy expanded 1.6 percent, missing the 1.8 percent forecast.
Economic news flow out of China has been driving risk aversion. Today’s figures appeared to show that the world’s second largest economy is continuing its downside growth trend. After the GDP release, the sentiment-linked Australian Dollar fell alongside Nikkei 225 futures while the anti-risk Japanese Yen rallied.
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