Australian Dollar Eyes China Q4 GDP Data as APAC Trading Kicks Off

The Australian Dollar is focused on the release of the fourth quarter GDP from China. According to a Bloomberg survey, the economy grew at 3.6% in the fourth quarter, the slowest rate in nearly 18 months. While it is still early to say whether the data will affect the Australian currency, the release will likely have a strong impact on the currency. However, if the report is released in line with expectations, the currency may be able to react negatively to the news.

The Australian dollar is also looking to China’s fourth-quarter GDP data. A recent Bloomberg survey shows that economists are expecting the economy to grow at 3.6% in the fourth quarter, the slowest growth rate in nearly 18 months. If the data is worse than expected, the AUD/USD may react to the downside. The Australian dollar’s weaker kin will likely be put to work if the data is released ahead of schedule.

The fourth-quarter GDP data will cross the wires this morning. Bloomberg forecasts a 3.6% annualized growth rate, which would be the slowest rate in 18 months. A weaker number will likely lead the Australian dollar to react in a negative way. Although, the data from China is unlikely to impact the Aussie directly, it may serve to support the pair.

Today, the National Bureau of Statistics will release its fourth-quarter GDP. According to Bloomberg’s survey, growth was 3.6% YoY in Q4. This would be the slowest growth rate in almost 18 months. The data from China will be a major driver of the Aussie, but traders should be aware of other factors influencing the economy. It is also possible that the Chinese economic data will come out negative.

Australia is also due to release its December retail sales and industrial production figures. The GDP numbers will be released in a month’s time and will be key in determining the direction of the currency. If the data is weak, it may hurt the Australian dollar. Those who follow the currency market closely will know when the data is released. The latest Australian Government has its own financial information and will be very transparent.

The Australian Dollar is set to react to the China GDP data. The country is expected to grow at 3.6% in Q4 this year, which is its slowest growth rate in 18 months. The Chinese government’s economic ties with Australia may also influence the Australian dollar’s performance. If the number comes out below expectations, the Aussie may react negatively to the data. Otherwise, it could move higher or lower as the Australian dollar moves in APAC.