Critical data coming for AUD/USD … this weekend! (Spoiler – China data)

Via Westpac on the Australian dollar:

• AUD/USD is showing some tentative signs of shaking off its lacklustre
  price action linked to iron ore prices hitting 22mth lows and rocky
  global market conditions.
• But AUD must still navigate August China
  activity data this weekend. August China imports, PMIs and recent credit
  trends, anecdotally, do not auger well for the August data round.

That’s right folks – Chinese August ‘activity’ data is due on Saturday, September 14, 2024:

• at 0200 GMT, which is 2200 on Friday evening US Eastern time

All three of these 3 key indicators:

• retail sales, industrial output, investment

are expected to come in at lower rates of growth than they did in July.

This article was written by Eamonn Sheridan at www.forexlive.com.