AUD/USD ignores downbeat Australia Q3 GDP around 0.6700, China trade numbers eyed – by anilpanchal7 AUDUSD GDP RiskAppetite China TradeBalance
Market sentiment remains cautiously optimistic as China signals easing of Zero-Covid policy as soon as Wednesday.
That said, Australia’s third quarter GDP eased to 0.6% QoQ versus 0.7% expected and 0.9% prior while the YoY readings also dropped to 5.9% compared to 6.3% market forecasts and 3.6% previous reading.Earlier in the day, Australia’s AiG Performance of Services Index for November declined to 45.6 versus 47.7 prior.
On the positive side, China state media renews the market’s optimism by showing the dragon nation’s readiness to ease the three-year-old Zero-Covid policy."Beijing readies itself for life again," read a headline in the government-owned China Daily newspaper, adding that people were"gradually embracing" newfound freedoms, reported Reuters.
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