Chinese data support AUDUSD pair

AUDUSD pair inched higher early Sunday as the Chinese Central Bank announced injecting 200 billion Yuan in Chinese contributing banks to raise liquidity levels, in a bid to cope with recent declines in Chinese growth rates amid fears of failure to achieve 7.5% growth target for the current year.

China is the key trading partner for Australia and that definitely influences the Australian dollar, besides the Chinese Central Bank pumping liquidity would also strengthen the economic activity across the sectors in China; therefore it will raise rates on demand for Australian exports, particularly mining.