Weak data from China stopped the steady growth of the Aussie.
The Chinese reports showed that industrial production fell from 6.2% to 6.0% in July. The retail sales fell by 0.4% and showed 10.2% vs. 10.6% in June. The asset investments decreased to 8.1% from 9.0%. This is the lowest figure from 2000 year.
The iron ore is trying to consolidate below $60 (-0.87%). Despite the statements about the upcoming September OPEC meeting and stabilizing the oil prices, Saudi Arabia and Kuwait lowered the selling prices for Asian buyers. The OPEC data showed that Saudi Arabia increased the production and Iran exceed the volumes of production of 2008 year by 3.85 million barrels per day.
Today the US expects good data on retail sales and inflation. The retail sales are expected at 0.4% in July after 0.6% in June. The Producer Price Index (PPI) is expected at 0.1%. The core PPI is expected to decrease by 0.1% against the previous. The Michigan consumer sentiment index is expected to increase to 91.5 against the previous 90.0.
How to trade binary
We would buy put options if the pair falls below 0.7662.
Target price: 0.7662
Expiry time: 20:00 GMT