Pacific Currencies – Summary
USD/CNY climbed above 7.0700 on Wednesday, its highest level since October 23. However, the yuan has managed to recover somewhat, as the pair has retracted. Currently, the pair is trading at 7.0414, down 0.10% on the day.
AUD/USD is trading at 0.6841, down 0.11% on the day. The pair showed a muted response to week numbers on Thursday. Retail sales in September slipped to 0.0%, down from 0.2% in August. The trade surplus narrowed to A$4.50 billion in September, down sharply from A$7.18 billion in the previous release. This was the lowest surplus recorded in 2019.
After gains of almost 2.0% this week, NZD/USD has taken a pause. Currently, the pair is trading at 0.6536, down 0.19% on the day. The NZ dollar has benefited from solid Chinese service and manufacturing reports this week.