Overnight Chinese data weighs down the Australian dollar (Dayle Littlejohn)

AUDGBP Drops as Aussie Borders Close Until 2022

China overnight released their latest Consumer Price Index (inflation) numbers. The consensus was for inflation to drop to 1.8% from 2%. However the National Bureau of statistics overestimated the inflation figure and inflation dropped to 1.6%.

GBP/ AUD has plummeted 10 cents over the last month. I put this down to a stabilising Chinese stock market and poor UK economic data over the last 2 weeks (CPI & GDP in particular).

Tonight Australia release their latest employment figures. I expect China will have had a detrimental effect on employment throughout Australia and therefore a buying opportunity may present itself overnight.

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