Aussie Hovers Above Four Month Low – 14 May, 2019

Worse than expected Chinese industrial output and retail sales growth did little to the foreign exchange market, but the Australian dollar hovered near a four month low as traders are trying to gauge the condition of the global economy based on European and U.S. data that has yet to be released. Against a basket of six major currencies, the dollar index was steady at 97.514 having risen 0.2% during previous sessions. The euro was slightly firmer at $1.1206, while the Aussie fell 0.2% to $0.6928, just above its lowest since January. The dollar edged up against the yen to 109.65, having gained 0.3% the previous session.