Tag Archives: China

Aussie plummets to lowest since October 2011

The Australian dollar dropped to 19-month lows against the US dollar on Thursday, after weak manufacturing data from China fuelled concerns over the outlook for global economic growth. China is a major export market for Australia and so the disappointing data has a large impact on the Australian currency. AUDUSD extended its decline following the Chinese data during the Asian session and...

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May 23, 2013 @ 7:59 am

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Aussie rises after China reports trade surplus

China showed some signs of improvement in April after posting a trade surplus which surpassed forecasts. A boost in exports helped drive up the trade balance which created a surplus of $18.2 billion, beating expectations of a $15.5 billion surplus. This was a 14.7 per cent in April, up from a previous 10 per cent increase. The accelerating of exports from March led to a 14.7 increase in...

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May 8, 2013 @ 7:47 am

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Moody’s cuts China outlook to stable from positive

China had its sovereign bond rating of As3 has been kept steady by Moody’s but the nation’s outlook was downgraded from positive to stable. This comes after rival ratings agency, Fitch, downgraded China’s credit rating last week from AA- to A+ due to growing government debt. Moody’s said in a statement: "Progress has been less than anticipated in the process of both reducing...

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April 16, 2013 @ 6:44 am

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China GDP misses estimates, sparking demand for safe haven yen

Monday trading started off with risk aversion, following from Friday’s damp sentiment due to weak US data. This time it was disappointing growth numbers from China, which reported weaker-than-expected Gross domestic product (GDP) in the first quarter o this year that ended in March. Since China is the world’s second largest economy and a huge driver of global trade, these numbers are...

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April 15, 2013 @ 6:43 am

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