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China's GDP stable in Q1

Friday, Apr 15 2016
China’s economy stabilized last quarter and gathered pace in March as a surge in new credit spurred a property sector rebound while raising fresh questions over the sustainability of the debt-fueled expansion.
Gross domestic product rose 6.7% in the first quarter from a year earlier, meeting the median projection of economists surveyed by Bloomberg and in line with the government’s growth target of 6.5% to 7% for the full year. New credit, industrial output, fixed-asset investment and retail sales picked up in March and beat analysts’ forecasts. Industrial output expanded 6.8% in March from a year earlier and retail sales rose 10.5%. 
 
Aussie is currently being traded around 0.77 area. Pair is likely to find support around 0.7650 handle and resistance above 0.7730 level. Later today, in the US session, Empire State Manufacturing Index, Industrial Production and Consumer Sentiment figures are scheduled for a release.
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