AUD/USD little changed after China’s GDP steadies at 6% YoY in Q4 vs. +6% expected
Fundamental Forex Analysis

AUD/USD little changed after China’s GDP steadies at 6% YoY in Q4 vs. +6% expected

  • China’s GDP arrives at 6.0% YoY in Q4, meets expectations.
  • China’s Dec Retail Sales and Industrial Production beat estimates.
  • AUD/USD pays little heed to the mixed Chinese data dump.

China’s economy steadied its pace of growth in the fourth quarter, the official data released at 02:00 GMT showed. 

The annualized fourth-quarter gross domestic product (GDP) came in at 6.0%, matching the forecasted print of 6.0% and unchanged from the previous quarter’s GDP of 6.0%. 

Inter-quarter, China’s GDP arrived at 1.5% vs. 1.5% in Q4 expected and 1.5% previous.

China’s December Retail Sales YoY, the number arrived at +8.0% vs. +7.8% expected and +8.0% last, with Industrial Output YoY at +6.9% and +5.9% expected and +6.2% last. 

Meanwhile, Fixed Asset Investment YoY stood at +5.4% in December vs. +5.2% expected and +5.2% last. 

The Chinese GDP data came on the expected lines and therefore had a little impact on the Australian Dollar, keeping the AUD/USD pair almost unchanged around 0.6895 levels.

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