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Published: 2023-12-15T05:18:21.000Z

AUD/USD flows: Proxy gains on Strong Yuan

byCephas Kin Long Yung

FX Analyst
-

PBoC Fixing the Yuan at their strongest rate since June

Chinese Economic Data Mixed

On Friday, the PBoC has fixed the onshore Yuan at the strongest rate since June, seeing both on/offshore Yuan capitalizing it and trades stronger against the USD. It is partially supported by positive but mixed Chinese economics data, which shows industrial surprised to the upside and Retail Sales continue to grow strongly but miss the estimate. It is welcoming data for the Chinese economy, supported the Yuan and indirectly the Aussie. 

With regional equities on a positive note, the AUD/USD is 0.23% higher at 0.6713.

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Topics
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AUD/USD-Commentary

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