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Anzo Lim

China’s GDP in Q3 Gains a Steady Growth of 6.2%

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Recent data from China’s Statistic Bureau shows China registered a GDP of 69,779.8 billion Yuan in the third quarter this year, a 6.2% growth year-on-year at comparable price. The agricultural sector increased by 4,300.5 billion, up by 2.9%; industrial sector increased by 27,786.9 billion, up by 5.6%; service sector increased by 37,692.5 billion, up by 7%.

 

The steady growth of Chinas economy is good news for currencies such as Australian dollar and New Zealand dollar, and the news of an initial Brexit deal between UK and EU boosted market risk appetite. The AUD/USD and other related cross currencies are good choices for investors.

 

AUD/USD daily pivot point: 0.6788---0.6818

 

S1: 0.6774          R1: 0.6854

 

S2: 0.6723          R2: 0.6883

 

Source: WikiFX App

 

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