Published: 2024-06-17T04:41:14.000Z
AUD/USD flows: Mixed Chinese data and soft sentiment
FX Analyst
1
China May Industrial output +5.6% y/y, +6.0% and Retail sales +3.7%, expected +3.0%
China May new home prices -0.7% m/m and -3.9% y/y
The PBoC has kept the 1-year MLF interest rate unchanged at 2.5%
We have a barrage of Chinese data to begin our week with and they are mixed, tilting towards the downside. The property market remains depressed with prices falling at the fastest pace in almost a decade. The PBoC has kept the 1-year MLF interest rate unchanged at 2.5% and seems to signal LPR to be unchanged later in the month. The Chinese equities market under performed Hong Kong and Japanese counterpart after the data.
AUD/USD is dragged by sentiment and is trading 0.16% lower at 0.6604.