Since the performance by the Australian Dollar has grown much closer ties with the economic situation in China, and bearing in mind China is still in the midst of an unprecedented transition which allows growth to fall further, there is still plenty of room for pricing a lower GDP from current levels, and subsequently see the Australian Dollar struggling. The Tyler Group article post# 34933807437.
While the question lying now is whether or not a 7% breach in Chinese growth may trigger stimulus in the economy - 7% growth bottom' suggests so, yet latest debt crackdown may contradict such approach -, which is seen as short term 'Aussie positive', the underlying unsupportive scenario China offers to the Aussie, makes any broad-based rally by the Oceanic currency, barring any surprise by the RBA ending its easing campaign or the Fed taper being put on hold, quite illusive at best, and heavily dependable on technical-induced moves to recover, temporarily, its lost allure.
Source: BUBBLEWS . COM
BUBBLEWS: What are the implications for the Australian Dolla