The AUD continues to grow
20.04.2015
The AUD/USD pair opened the new week strongly after another attempt by China to stimulate its economy.
The Australian dollar grows on Monday. The AUD/USD pair is trading around the level of 0.7811. A little more - and the way to the peak in March will open, which would be quite good.
In the morning it became known that the People's Bank of China decided to reduce reserve requirements for banks. The index decreased by 1% and is now 18.5% versus 19.5% previously. This is the most serious reduction in the reserve ratio requirements in the past few years.
Apparently, the Central Bank of China leaves no attempts to stimulate its own economy, but it does not want to implement a full-scale program of support. This could accelerate inflation, which would subsequently be difficult to handle. Last week, China presented a block of statistics on its economic system, in which everything was far from rosy. GDP in the first quarter grew by only 7% - such growth was expected by the economists, but at the same time, it was lower than the previous quarter. This is the minimum growth of the Chinese economy since 2009.
All that somehow relates to China immediately reflects on the AUD/USD pair. China remains the largest trade and economic partner of Australia.
RoboForex Analytical Department
The Australian dollar grows on Monday. The AUD/USD pair is trading around the level of 0.7811. A little more - and the way to the peak in March will open, which would be quite good.
In the morning it became known that the People's Bank of China decided to reduce reserve requirements for banks. The index decreased by 1% and is now 18.5% versus 19.5% previously. This is the most serious reduction in the reserve ratio requirements in the past few years.
Apparently, the Central Bank of China leaves no attempts to stimulate its own economy, but it does not want to implement a full-scale program of support. This could accelerate inflation, which would subsequently be difficult to handle. Last week, China presented a block of statistics on its economic system, in which everything was far from rosy. GDP in the first quarter grew by only 7% - such growth was expected by the economists, but at the same time, it was lower than the previous quarter. This is the minimum growth of the Chinese economy since 2009.
All that somehow relates to China immediately reflects on the AUD/USD pair. China remains the largest trade and economic partner of Australia.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.