Bell FX: As the USD lost ground against most currencies over the past 24 hours, the AUD was amongst the best performers, gaining about 0.4% against the USD

Bell Potter

Bell FX: As the USD lost ground against most currencies over the past 24 hours, the AUD was amongst the best performers, gaining about 0.4% against the USD. China's renminbi hit an all-time high overnight of 6.0909 against the USD. China Industrial Production and Retail data yesterday provided more evidence that the economy is stabilising at a lower but still solid growth rate. Production rose 10% yoy (median forecast 10.1%); Retail Sales rose 13.7% (f/c 13.3%) and Non-rural Fixed Asset Investment rose by 19.9% (f/c 20%). The NAB business survey showed that business confidence declined modestly in November but remained above the average level of the past couple of years and actual business conditions continued to gradually improve but remained at a relatively low level. Today's Forecast Range USD: 0.9105 - 0.9190


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