Investing.com - The Australian dollar was lower against its U.S.
counterpart on Monday, as the release of weak Chinese economic growth data added to concerns over the outlook for global growth.
AUD/USD hit 1.0417 during late Asian trade, the pair's lowest since April 9; the pair subsequently consolidated at 1.0441, shedding 0.60%.
The pair was likely to find support at 1.0386, the low of April 4 and resistance at 10524, the session high.
The Chinese economy expanded by 7.7% year-on-year in the three months to March, down from 7.9% in the fourth quarter and undershooting expectations for 8.0% growth.
Separate reports showed that Chinese industrial production also came in below expectations, while retail sales rose slightly more than forecast.
The data reinforced concerns over the outlook for global growth after data on Friday showed that U.S. retail sales fell 0.4% in March, the largest decline in nine months.
China is also Australia's biggest export partner.
In Australia, official data showed that home loans rose 2% in February, beating expectations for a 1.6% increase, after a 0.3% slip the previous month.
The Aussie was also lower against the euro with EUR/AUD adding 0.31%, to hit 1.2520.
Later in the day, the U.S. was to release data on manufacturing activity in New York state.
counterpart on Monday, as the release of weak Chinese economic growth data added to concerns over the outlook for global growth.
AUD/USD hit 1.0417 during late Asian trade, the pair's lowest since April 9; the pair subsequently consolidated at 1.0441, shedding 0.60%.
The pair was likely to find support at 1.0386, the low of April 4 and resistance at 10524, the session high.
The Chinese economy expanded by 7.7% year-on-year in the three months to March, down from 7.9% in the fourth quarter and undershooting expectations for 8.0% growth.
Separate reports showed that Chinese industrial production also came in below expectations, while retail sales rose slightly more than forecast.
The data reinforced concerns over the outlook for global growth after data on Friday showed that U.S. retail sales fell 0.4% in March, the largest decline in nine months.
China is also Australia's biggest export partner.
In Australia, official data showed that home loans rose 2% in February, beating expectations for a 1.6% increase, after a 0.3% slip the previous month.
The Aussie was also lower against the euro with EUR/AUD adding 0.31%, to hit 1.2520.
Later in the day, the U.S. was to release data on manufacturing activity in New York state.