China’s Ministry of Commerce said during Friday’s European trading session that the government aims to revive overall demand, and has laid out plans to drive that.
Additional notes
Efforts will be intensified to expand imports.
To expand the consumption of services as well.
It will increase the implementation of comprehensive policies that directly reach households/consumers.
To eliminate restrictive measures and encourage renewal of consumption of household appliances.
Market reaction
The announcement of China’s plans has no immediate impact on the Australian Dollar (AUD) despite it being a liquidity proxy for Beijing. The AUD/USD pair has been trading strongly since its open on Friday, trading 0.3% higher around 0.6640 during the European session.
Australian dollar price today
The table below shows the percentage change in the Australian Dollar (AUD) against the major currencies listed today. The Australian dollar was the strongest against the US dollar.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.05% | -0.05% | 0.00% | -0.07% | -0.25% | -0.11% | -0.03% | |
| euro | 0.05% | 0.00% | 0.04% | -0.01% | -0.20% | -0.06% | 0.02% | |
| GBP | 0.05% | -0.01% | 0.02% | -0.01% | -0.20% | -0.06% | 0.02% | |
| JPY | 0.00% | -0.04% | -0.02% | -0.05% | -0.25% | -0.12% | -0.02% | |
| Canadian | 0.07% | 0.00% | 0.01% | 0.05% | -0.20% | -0.07% | 0.03% | |
| Australian dollar | 0.25% | 0.20% | 0.20% | 0.25% | 0.20% | 0.14% | 0.22% | |
| New Zealand dollar | 0.11% | 0.06% | 0.06% | 0.12% | 0.07% | -0.14% | 0.08% | |
| Swiss franc | 0.03% | -0.02% | -0.02% | 0.02% | -0.03% | -0.22% | -0.08% |
The heat map shows the percentage changes in major currencies versus each other. The base currency is chosen from the left column, while the counter currency is chosen from the top row. For example, if you select the Australian dollar from the left column and move along the horizontal line to the US dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
