Australian dollar rallies on strong China, weak US data
THE Australian dollar has risen above 93 US cents following positive economic figures out of China and weaker data out of the US.
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THE Australian dollar has risen above 93 US cents following positive economic figures out of China and weaker data out of the US.
At 0630 AEST on Thursday, the local currency was trading at 93.08 US cents, up from 92.95 cents on Wednesday.
US retail sales were virtually unchanged in July from June and excluding the automobile sector, edging up just 0.1 per cent, official figures show.
Meanwhile, China’s industrial production rose 9.0 per cent year-on-year in July while retail sales increased 12.2 per cent in the same month.
Originally published as Australian dollar rallies on strong China, weak US data
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