Australian Dollar Remains Strong After China Q1 GDP Data Release
The Australian dollar (AUD) continued its uptrend against the US dollar (USD) for the sixth straight session on Wednesday (16/4), with the AUD/USD pair holding firm after the release of the Westpac Leading Australia Index. The six-month annualized growth rate of the index, which estimates economic momentum relative to trend over the next three to nine months, eased to 0.6% in March from 0.9% in February.
China’s economy grew at an annualized rate of 5.4% in the first quarter of 2025, matching the pace seen in Q4 2024 and beating market expectations of 5.1%. On a quarterly basis, GDP rose by 1.2% in Q1, following a 1.6% increase in the previous quarter, lower than the 1.4% increase expected.
Meanwhile, China’s Retail Sales jumped 5.9% year-on-year, beating expectations of 4.2% and up from 4% in February. Industrial Production also performed better, rising 7.7% compared to the 5.6% forecast and the 5.9% figure in February.
Source: FXStreet
