Global macro overview for 19/01/2016:
The important economic data on the GDP and industrial production was delivered from China overnight. The real GDP decreased to 1.6% q/q (6.8% y/y) from the previous level of 1.8% q/q (6.9% y/y) together with the industrial production ( 5.9% vs. 6.0% expected). The market so far seems to approve this weak data as it indicated that the world's second largest economy continued to slow in 2015. With the GDP hit the lowest levels since 1990, a transition from the manufacturing- and exports-based economy towards more consumption-oriented economy is going rather smooth, but data reliability still remains in question.
The AUD/USD pair has been lifted by the recent Chinese data and it is currently trading just above the daily resistance at the level of 0.6936.
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