China is Australia’s biggest trading partner. When the Chinese initiate government stimulus measures to tackle its economic slowdown, it will also affect Australia’s export market and to some extent, New Zealand.
The latest economic numbers from China suggest that the Chinese economy might have bottomed out and might register better growth rate going into Q1 2013. This gave support to the AUD and kept the AUDUSD above the 1.0500 level.
The same is happening to the NZDUSD since it looks like it is breaking above the key resistance of 0.8400.
To your success as a profitable trader,
Get FREE 1-on-1 coaching by Mario's team
with your FXPRIMUS Live Account: