China big miss, pressures Aussie bulls – UOB

FXStreet (Guatemala) – Analysts at UOB group noted that China’s Sept industrial profits declined 0.1% y/y but has improved from August decline of 8.8% y/y.

And Aussie is weak testing 0.72 bulls commitments

Key Quotes:

“USD/CNH was lower by 50pips to 6.3800 immediately after the data release. In the past two weeks, the spread between the onshore and offshore yuan has slowly widened to more than 300 pips and any further widening may led to PBOC intervention (which they have done so aggressively in late Sept) especially when the SDR decision looms in Nov.”

Analysts at UOB group noted that China’s Sept industrial profits declined 0.1% y/y but has improved from August decline of 8.8% y/y.

(Market News Provided by FXstreet)