I have been harping on for some time now about how China will lead the world out of the current economic slump. They not only have the reserves, but an ehtic that will not allow them to be seen to fail so i fully expect to see Growth numbers for China in 2009 come in around the 8% level.
The outlook for China should also signal something of a bottom in commodity prices in 2009 with prices seen recovering throughout the latter part of the year. This is a positive sign for the AUDUSD with levels closer to 0.8500 expected before the end of 2009.
In OTC trading the USD ended at CNY6.8344, lower than the previous day’s close of CNY6.8367.
