{"id":106622,"date":"2020-11-16T17:01:40","date_gmt":"2020-11-16T17:01:40","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106622"},"modified":"2020-11-16T17:01:40","modified_gmt":"2020-11-16T17:01:40","slug":"104816-australian-dollar-advances-on-chinese-economic-data-rcep","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\/","title":{"rendered":"Australian Dollar Advances on Chinese Economic Data, RCEP"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><strong>The Chinese economy\u2019s solid recovery from the February lows continues to support AUD.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>The signing of RCEP could help ease Australia China in the near term.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>AUD\/USD targets yearly highs after breaking through key resistance.<\/strong><\/li>\n<\/ul>\n<p><b>CHINESE ECONOMIC RECOVERY SUPPORTS AUD<\/b><\/p>\n<p><span style=\"font-weight: 400;\">China\u2019s solid economic recovery from February lows could continue to support the trade-sensitive Australian Dollar over the medium term.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Data suggests that China\u2019s recovery is gathering pace. The Caixin manufacturing, services and composite PMI prints for October beat forecasts.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The rate of growth in business activity was the fastest in around 10 years. Industrial production increased by 6.9% YoY climbing the most in almost a year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">More stimulus could be on the cards meaning the economy is set to continue expanding this year potentially lifting risk sentiment and the cyclically-sensitive AUD.<\/span><\/p>\n<p><b>RCEP COULD CALM AUSTRALIA-CHINA TENSIONS<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Rising Australia-China trade tensions could drag on the Aussie Dollar and regional risk assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The signing of the world\u2019s largest regional free-trade agreement could help calm relations and end the tit-for-tat exchanges that have threatened over $20 billion of exports.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">15 Asia-Pacific nations signed the Regional Comprehensive Economic Partnership (RCEP) at the 37th Asean Summit on Sunday. The trade deal is likely to decrease tariffs, strengthen supply chains and implement new e-commerce regulations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Australian Trade Minister Simon Birmingham considers that the RCEP will provide a platform to mend relations,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It remains to be seen if this is the case. However, the potential for constructive talks could boost market sentiment and buoy risk-sensitive assets.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chinese economy\u2019s solid recovery from the February lows continues to support AUD. The signing of RCEP could help ease Australia China in the near term. AUD\/USD targets yearly highs after breaking through key resistance. CHINESE ECONOMIC RECOVERY SUPPORTS AUD China\u2019s solid economic recovery from February lows could continue to support the trade-sensitive Australian Dollar [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3593,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[],"class_list":{"0":"post-106622","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian Dollar Advances on Chinese Economic Data, RCEP - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"Australian Dollar Advances on Chinese Economic Data, RCEP\",\"datePublished\":\"2020-11-16T17:01:40+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\\\/\"},\"wordCount\":258,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100040-gbp-aud-has-volatile-session.jpg\",\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104816-australian-dollar-advances-on-chinese-economic-data-rcep\\\/\",\"name\":\"Australian Dollar Advances on Chinese Economic Data, RCEP - 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