The "Aussie" grows quickly and confidently.
The Australian dollar began to rise after the positive data out of China during the Asian session.
The China's GDP for the 2nd quarter amounted to 1.8% against the expectations of 1.6%. The volume of industrial production increased from 6.0% to 6.2% while waiting for the reduction to 5.9% in June. The retail sales increased from 10.0% to 10.6%.
It is worth to pay attention to the growth of the Chinese government spending. In June, the expenses increased by 19.9% compared with the same month last year. During the first half of year, the growth was 15.1%. This suggests that China is investing in the real economic development.
We hope that further Chinese statistics continue to improve regardless of the state of financial markets in Europe or the UK.
Yesterday Australia published the neutral labor data. The unemployment has increased from 5.7% to 5.8%, but at the expense of increasing of the economically active population from 64.8% to 64.9%. The National Australian Bank (NAB) forecasted the growth of housing in Sydney and Melbourne this year. The iron ore crossed the level of $56. The wheat added 0.95% yesterday.
How to trade
We would buy call options if the Aussie crosses 0.76450.
Target price: 0.76450
Expiry time: 20:00 GMT