Australian dollar keeps growing. Overview 15.07.2019.

On Monday the Australian dollar remains strong vs the US dollar, the current quotation being 0.7033.

In the morning China published the data on its GDP for the 2nd quarter of 2019; according to the report, the economy has grown by 6.2% (calculated for a year) in line with the forecasts. The growth of the Chinese economy is the slowest of the last 27 years. Comparing this economy to any other makes little sense; however, it is still obvious that it requires stimulation in order to prevent steep decline in the situation of the trading argument with the USA. Meanwhile, certain data of June has reflected the local stabilization of the economy. The volume of industrial production has grown by 6.3% (calculated for a year), compared to 5.2% forecast and the previous growth of 5.0%.

Retail sales grew by 9.8% last month (counted for a year), compared to 8.5% forecast. The volume of investments in capital assets, in its turn, grew by 5.8%, which is also more than had been expected.

In fact, what do we see in this statistics? We see the China’s economy still under a pressure, but this pressure looks different than before. The government makes certain movements in the employment sector, for example, in the sphere of finance; this is great but not enough to revive the economy.

Everything that deals with the economy of China is vital for Aussie because China has always been the key trading partner of Australia.