Aussie Onward; China Economy Grows More than Estimated
fxbom.com
11:53 AM
Aussie experienced a significant increase in trading today against the U.S. dollar. Aussie moves skyrocketed after data from China’s economic growth shows better results than expected, although it tends to slow down.
Economic growth in the fourth quarter and only reached 8.9% (y / y). Economic growth was below 9% for the first time since mid-2009. Nevertheless economic growth rate is still above the 8.7% estimate. Meanwhile, economic growth in 2011 slowed to 9.2% was recorded compared to 10.4% in the previous year 2010.
Aussie this morning are at 1.0371 dollars. The position of the Australian dollar this morning experienced a significant increase compared to the position of closing the trade early this morning at the level of 1.0313 dollars. Today the Australian dollar reached the highest level since January 12 last.
Fxbom.com Analysts estimate that the movement of the Australian dollar in trading today will be able to continue the increase. Positive sentiment in Asian stock markets also contributed to the movement of the Australian dollar strengthened. It is estimated that today the Australian dollar will test the resistance level at 1.0429 dollar positions.
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