China lays out plans to boost consumption

Sagar Dua FXStreet

China’s Commerce Ministry stated during the European trading session on Friday that the government aims to revive the overall demand, laid out plans to propel the same.

Additional remarks

Will step up efforts to expand imports.

To also expand services consumption.

Will increase implementation of inclusive policies that directly reach households/consumers.

To eliminate restrictive measures and promote renewal consumption of home appliances.

Market reaction

There is no immediate effect of China’s plans announcement on the Australian Dollar (AUD) despite being a liquidity proxy of Beijing. The AUD/USD pair trades firmly since its opening on Friday, trades 0.3% higher around 0.6640 during the European session.

Australian Dollar Price Today

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.05%	-0.05%	0.00%	-0.07%	-0.25%	-0.11%	-0.03%
EUR	0.05%		0.00%	0.04%	-0.01%	-0.20%	-0.06%	0.02%
GBP	0.05%	-0.01%		0.02%	-0.01%	-0.20%	-0.06%	0.02%
JPY	0.00%	-0.04%	-0.02%		-0.05%	-0.25%	-0.12%	-0.02%
CAD	0.07%	0.00%	0.01%	0.05%		-0.20%	-0.07%	0.03%
AUD	0.25%	0.20%	0.20%	0.25%	0.20%		0.14%	0.22%
NZD	0.11%	0.06%	0.06%	0.12%	0.07%	-0.14%		0.08%
CHF	0.03%	-0.02%	-0.02%	0.02%	-0.03%	-0.22%	-0.08%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

Author

Sagar Dua

FXStreet

Sagar Dua is associated with the financial markets from his college days. Along with pursuing post-graduation in Commerce in 2014, he started his markets training with chart analysis.

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