XE Market Analysis: Europe – May 15, 2019

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The Dollar majors have mostly been trading steadily, holding within respective Tuesday ranges. One exception was AUD-USD, which edged out a new four-month low at 0.6922, which reflected Aussie Dollar weakness as markets reacted to soft Chinese data today. China’s April industrial production decelerated from the four-and-a-half-year high seen in March while China’s retail sales dove to a 16-year low. The Australian currency is directionally sensitive to Chinese data, being viewed as a liquid forex market proxy of China.