The Australian dollar is threatening to break 0.9000 for the first time since March 19.
Chinese weekend was soft, especially industrial production as it rose just 6.9% y/y compared to 8.8% expected. Retail sales and fixed investment was also on the soft side.
At the moment it doesn’t take much to give the sellers and excuse to get out of the way, it’s been a speedy trip to the downside.
AUDUSD daily chart — not much support
There has been a slight bounce since the early-week sell off and low of 0.9003. Watch for stops on a break of the big figure.
Aside from the data, there’s one more big reason the Australian dollar is under pressure to start the week — I’ll post the story in a moment.
Update: Here it is.