China Q2 GDP growth slows to 6.7 pct y/y, in line with expectations. China May industrial production printed weaker-than-expected. AUD/USD drops after posting a doji candle last week. The Aussie dollar is on the retreat after weak China data release. At press time, the currency pair is trading at 0.7412, having clocked a high of 0.7436 earlier today. The data released a few minutes ago showed China second-quarter GDP growth slowed to 6.7 percent as expected. Further, industrial production growth slowed to 6 percent year-on-year in May, beating the estimated drop to 6.5 percent from previous month’s print of 6.6 percent. Meanwhile, retail sales growth came in at 9 percent as expected. The dismal data isn’t boding well for the Aussie dollar – a proxy for China. That said, bigger losses are ruled out as sellers have likely run dry, the last week’s doji candle indicates. AUD/USD Technical Levels Resistance: 0.7436 (session high), 0.7484 (July high), 0.75 (psychological level). Support: 0.7395 (20-day MA), 0.7360 (July 12 low), 0.7310 (July 2 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY: Friday’s doji makes today’s NY close pivotal FX Street 5 years China Q2 GDP growth slows to 6.7 pct y/y, in line with expectations. China May industrial production printed weaker-than-expected. AUD/USD drops after posting a doji candle last week. The Aussie dollar is on the retreat after weak China data release. At press time, the currency pair is trading at 0.7412, having clocked a high of 0.7436 earlier today. The data released a few minutes ago showed China second-quarter GDP growth slowed to 6.7 percent as expected. Further, industrial production growth slowed to 6 percent year-on-year in May, beating the estimated drop to 6.5 percent from previous month's print of 6.6… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
