AUD/USD Shows Strong Gains on Chinese Data

The Australian Dollar (AUD) continues to show a strong performance on Monday, supported by strong industrial data in China, since China is Australia’s largest trade partner.

The AUD is up by 072% against the US Dollar (USD), with the AUD/USD pair trading at 0.7322.

The pair has been moving in a range between 0.7259 and 0.7327, mostly in the positive territory, after closing last week at the level of 0.7267.

Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus.