AUD/USD extends gains on the second day, trading higher around 0.6470 during the Asian session on Friday. China’s positive economic data is reinforcin
The data released by the National Bureau of Statistics in China reveals encouraging economic trends. In August, year-over-year Retail Sales grew by 4.6%, surpassing expectations of a 3.0% increase and demonstrating an improvement from the previous month's 2.5% figure.
China’s favorable economic figures point toward an enhancement in economic activity, and this could have meaningful implications for Australia as a significant trading partnership between the two countries. The recent move by the People's Bank of China to lower the Reserve Requirement Ratio by 25 basis points for a significant portion of the banking system is aimed at releasing additionalUS Dollar Index retreats from its six-month high, holding ground near 105.30.
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