China's Industrial Production rose less than expected
China's Industrial Production rose 6.8% in the two-month period from a year earlier, missing expectations on 7.7% increase. The two-month industrial output reading shows the slowest start to a year since 2009. Retail sales advanced 10.7%, while fixed-asset investment increased 13.9%.
Premier Li Keqiang last week set the nation’s 2015 expansion target at about 7 percent, the slowest in more than 15 years, as China’s leaders grapple with the debt, pollution and corruption spurred in a three-decade-long economic boom. The central bank has sought to cushion the slowdown with two interest rate cuts and one reduction to banks’ reserve requirements in the past four months.
After the data Aussie edged down few points but managed to rebound currently being traded slightly above 0.76 handle. Pair is likely to find support around 0.7550 and resistance above 0.7650 area. There will be no major data releases in the rest of the session.
Last modified on Wednesday, 11 March 2015
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