The post China’s November Retail Sales rise 3.0%, Industrial Production up 5.4% appeared on BitcoinEthereumNews.com.

China’s November Retail Sales increased 3.0% year-on-year (YoY) vs. 4.6% expected and 4.8% in October, according to the latest data released by the National Bureau of Statistics (NBS) on Monday. Chinese Industrial Production rose 5.4% YoY in the same period, compared to the 5.3% estimated and the 5.3% registered previously. Meanwhile, the Fixed Asset Investment came in at 3.3% year-to-date (YTD) YoY in November, missing the expected 3.4% figure. The October reading was 3.4%. Additional details of the report showed that the dragon nation’s Unemployment Rate remained unchanged at 5.0% in the reported period. AUD/USD reaction to Chinese data The mixed Chinese data dump cautions the Australian Dollar, with AUD/USD capping its bounce near 0.6375. The pair is up 0.16% on the day, as of writing. Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export, Iron Ore. The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets (risk-on) or seeking safe-havens (risk-off) – is also a factor, with risk-on positive for AUD. The Reserve Bank of Australia (RBA) influences the Australian Dollar (AUD) by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole. The main goal of the RBA is to maintain a stable inflation rate of 2-3% by adjusting interest rates up or down. Relatively high interest rates compared to other major central banks support the AUD, and the opposite for relatively low. The RBA can…

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Filed under: News - @ December 16, 2024 2:16 am