The Aussie dollar declined on Wednesday in Asia after data showed the country\u2019s economy expanded less than expected in the three months through September.<\/p>\n
Gross domestic product\u00a0rose 0.3% from the second quarter, the statistics bureau said on Wednesday. Analysts previously expected GDP to rise 0.6%. On Tuesday, The Reserve Bank of Australia kept interest rates at a record-low 1.5% as expected.<\/p>\n
The\u00a0AUD\/USD\u00a0pair declined 0.7% to 0.7291 by 11:34PM ET (04:34 GMT).<\/p>\n
Meanwhile, the yuan dropped against the dollar even after China\u2019s November\u00a0services PMI\u00a0came in at a five-year high of 53.8, beating the forecasted 50.8 by a significant margin.
\nThe\u00a0USD\/CNY\u00a0pair last traded at 6.8679, up 0.4%.<\/p>\n
The People’s Bank of China (PBOC) set the yuan reference rate at 6.8476 vs the previous day’s fix of 6.8939.<\/p>\n
The U.S.-China trade war remained in focus after China\u2019s Ministry of Commerce released its\u00a0first official statement\u00a0following a meeting between U.S. President Donald Trump and his Chinese counterpart Xi Jinping over the weekend. Beijing said the trade meeting with the U.S. was \u201cvery successful\u201d but did not provide any further details on the outcome of the meeting.<\/p>\n
The\u00a0U.S. dollar index\u00a0that tracks the greenback against a basket of other currencies edged up 0.2% to 97.072. The safe-haven dollar gained after U.S. stocks slumped over 3% overnight.<\/p>\n
The plunge in U.S. stocks came after top White House economic adviser Larry Kudlow backtracked from U.S. president Donald Trump\u2019s announcement that Beijing had agreed to reduce tariffs on U.S.-made cars.<\/p>\n
\u201cIt hasn\u2019t been signed and sealed and delivered yet,\u201d Kudlow said on Fox News Tuesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Aussie dollar declined on Wednesday in Asia after data showed the country\u2019s economy expanded less than expected in the three months through September. Gross domestic product\u00a0rose 0.3% from the second quarter, the statistics bureau said on Wednesday. Analysts previously expected GDP to rise 0.6%. On Tuesday, The Reserve Bank Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[9,10,1],"tags":[],"class_list":["post-1127","post","type-post","status-publish","format-standard","hentry","category-homepage","category-latest-news","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/comments?post=1127"}],"version-history":[{"count":1,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1127\/revisions"}],"predecessor-version":[{"id":1128,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/posts\/1127\/revisions\/1128"}],"wp:attachment":[{"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/media?parent=1127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/categories?post=1127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forexvarsity.com\/welcome\/wp-json\/wp\/v2\/tags?post=1127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}