Australian Dollar remains stronger following China’s economic data
The post Australian Dollar remains stronger following China’s economic data appeared on BitcoinEthereumNews.com. The Australian Dollar holds ground following mixed economic data from China released on Monday. China’s Consumer Price Index declined by 0.1% in May, against the expected 0.2% drop. US Treasury Secretary Scott Bessent, along with two other officials, is set to meet with Chinese officials later in the day. The Australian Dollar (AUD) edges higher against the US Dollar on Monday, recovering its losses from the previous session. The AUD/USD pair remains stronger following the release of China’s key economic data. The National Bureau of Statistics of China reported that the Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May, following April’s 0.1% decline. However, the market consensus was for a 0.2% decrease in the reported period. Meanwhile, China’s CPI inflation declined by 0.2% MoM, against April’s 0.1% increase. China’s Producer Price Index (PPI) continues to weaken with an annual decline of 3.3% in May, following a 2.7% decline in April. Traders would likely assess renewed US-China trade negotiations as President Donald Trump and China’s Xi Jinping agreed on Thursday that both sides’ officials would soon resume trade negotiations aimed at ending the trade war. US Treasury Secretary Scott Bessent and two other Trump administration officials are set to meet with Chinese officials on Monday. Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter cautioned that “higher US tariffs will put a drag on the global economy,” and warned that higher uncertainty could dampen investment, output, and employment in Australia. Australian Dollar rises as US Dollar corrects downward The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is trading lower at around 99.00 at the time of writing. However, the Greenback received support from stronger-than-expected US jobs data for May, released on Friday. The US Bureau of Labor…
The post Australian Dollar remains stronger following China’s economic data appeared on BitcoinEthereumNews.com.
The Australian Dollar holds ground following mixed economic data from China released on Monday. China’s Consumer Price Index declined by 0.1% in May, against the expected 0.2% drop. US Treasury Secretary Scott Bessent, along with two other officials, is set to meet with Chinese officials later in the day. The Australian Dollar (AUD) edges higher against the US Dollar on Monday, recovering its losses from the previous session. The AUD/USD pair remains stronger following the release of China’s key economic data. The National Bureau of Statistics of China reported that the Consumer Price Index (CPI) dropped at an annual pace of 0.1% in May, following April’s 0.1% decline. However, the market consensus was for a 0.2% decrease in the reported period. Meanwhile, China’s CPI inflation declined by 0.2% MoM, against April’s 0.1% increase. China’s Producer Price Index (PPI) continues to weaken with an annual decline of 3.3% in May, following a 2.7% decline in April. Traders would likely assess renewed US-China trade negotiations as President Donald Trump and China’s Xi Jinping agreed on Thursday that both sides’ officials would soon resume trade negotiations aimed at ending the trade war. US Treasury Secretary Scott Bessent and two other Trump administration officials are set to meet with Chinese officials on Monday. Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter cautioned that “higher US tariffs will put a drag on the global economy,” and warned that higher uncertainty could dampen investment, output, and employment in Australia. Australian Dollar rises as US Dollar corrects downward The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is trading lower at around 99.00 at the time of writing. However, the Greenback received support from stronger-than-expected US jobs data for May, released on Friday. The US Bureau of Labor…
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