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The weak Chinese economy puts pressure on the Australian dollar
The weak Chinese economy puts pressure on the Australian dollar

The weak Chinese economy puts pressure on the Australian dollar

As S&P Global Ratings reports, the 2023 forecast for China's GDP growth rate has been downgraded from 5.5% to 5.2%.

As S&P Global Ratings reports, the 2023 forecast for China's GDP growth rate has been downgraded from 5.5% to 5.2%. This is due to May data showing a slowdown in China's economy. The country's slower economic growth rate is bad news for Australia, for whom China is its main trading partner. This is putting pressure on the AUD/USD pair.

AUD/USD

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78% of retail investor accounts lose money

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