AUD / USD
On Monday, the dollar index showed an increase while the risk appetite declined by 0.41%, but oil dropped by 1.5% and 1.6% in iron ore (with delivery to Dalian in China -2.4%) which prevented the "Australian" dollar to conduct an ascending trend, just like the euro and the British pound. Chinese economy issued weak indicators this morning. China's industrial production in January fell from 7.2% YoY to 6.0% YoY, with expectations for a decline to 6.4% YoY. The investments volume in fixed assets for the same month decreased from 7.9% YoY to 7.5% YoY against the forecast of a decline to 7.7% YoY. Retail sales increased, as the January indicator amounted to 10.1% YoY against the forecast of 9.7% YoY December indicator. The index of China A50 is down by 0.10%. The overall growth of China's economy (GDP) in the first quarter was 6.8% as expected, while growth coincided with the indicator for the fourth quarter. The Australian dollar loses 15 points in the Asian session.
Taking into account the smaller speculative component in the quotes of the Australian dollar, it can be expect to fall under the general pressure of fundamental factors. Perhaps, the "Australian" currency is the leading indicator of the previous significant decline in the Forex as of this writing. We are waiting for AUD / USD at 0.7710 and further at 0.7650.* The presented market analysis is informative and does not constitute a guide to the transaction.
