Numbers couldn’t support the Aussie. Overview for 16.12.2019
AUDUSD is falling early in the week influenced by the strong USD and rather mixed statistics.
The Australian Dollar is retreating against the USD in the middle of December. The current quote for the instrument is 0.6870.
In the morning, Australia reported on the Manufacturing PMI, which dropped down to 49.4 points in December after being 49.9 points in the pre3vious month, thus indicating a continual decline in the sector. The Services PMI in Australia decreased down to 49.5 points after showing 49.7 points in November, which is also pretty bad for the Aussie because should be vice versa due to the seasonality.
Numbers from China, no matter how positive they were, couldn’t support the Australian Dollar. The Industrial Production added 6.2% y/y in November and reached its five-month high after showing +4.7% y/y the month before and against the expected reading of +5.1% y/y. Apparently, the indicator improved because of more active domestic demand – the Chinese government put a lot of effort for that.
The Fixed Asset Investment showed +5/2% ytd/y, just as expected. The Retail Sales added 8.0% y/y in November after expanding by 7.2% y/y in October.
News relating to a possible signature of the first phase of the US-China trade agreement should have a positive influence on the Australian currency.