According to a document released by the country’s State Council, China announced measures to increase and restore consumption after the disappointing official business PMIs data released on Monday.
No other information is given regarding the same.
Market response on China State Council remarks
AUDUSD is maintaining its rebound toward 0.6700 and is presently trading at 0.6672 based on the headlines mentioned above. On the day, the pair has gained 0.38%.
The AUDUSD currency pair records its first daily gains in four days on Monday. As it bounces back from its lowest levels in three weeks and trades modestly higher around 0.6670. In doing so, the Aussie pair uses encouraging cues from China’s official activity statistics and Australian inflation signals to explain the market’s marginally upbeat mood and the US Dollar’s decline.
