Following the release of China’s high-impact growth and activity data for May, the National Bureau of Statistics (NBS) expressed its outlook on the economy during its press conference on Monday.
Featured Comments (via Reuters)
The overall performance of the Chinese economy remained stable in the first half of the year.
China’s GDP grew by 5.0% year-on-year in the first half of the year.
The external environment is complex and external demand remains insufficient.
The foundation for economic recovery still needs to be consolidated.
GDP growth of 5% in the first half of the year is ‘difficult to achieve’.
Companies are facing relatively large pressures and key sectors are facing many risks from this year.
The Chinese economy remains a key driver of growth for the global economy.
Second-quarter economic growth was impacted by short-term factors such as extreme weather and flooding.
The medium- and long-term improvement trend of the Chinese economy remains unchanged.
The Chinese economy faces increasing external uncertainties and many internal difficulties and challenges in the second half of the year.
The real estate market is still in the process of adjustment.
Market reaction
AUD/USD remains in the red near 0.6760, down 0.19% on the day at the time of writing.
Australian Dollar PRICE Today
The table below shows the Australian Dollar (AUD) exchange rate against major currencies today. The Australian Dollar was the weakest currency against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.19% | 0.17% | -0.02% | 0.07% | 0.21% | 0.25% | 0.17% | |
| EUR | -0.19% | 0.02% | 0.00% | 0.07% | 0.05% | 0.24% | 0.18% | |
| GBP | -0.17% | -0.02% | 0.06% | 0.05% | 0.04% | 0.18% | 0.17% | |
| JPY | 0.02% | 0.00% | -0.06% | 0.09% | 0.00% | 0.23% | 0.01% | |
| CAD | -0.07% | -0.07% | -0.05% | -0.09% | 0.07% | 0.18% | 0.11% | |
| AUD | -0.21% | -0.05% | -0.04% | -0.01% | -0.07% | 0.19% | 0.13% | |
| NZD | -0.25% | -0.24% | -0.18% | -0.23% | -0.18% | -0.19% | -0.07% | |
| CHF | -0.17% | -0.18% | -0.17% | -0.01% | -0.11% | -0.13% | 0.07% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the AUD (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
