Forex: Chinese local gvt unveils new stimulus plans; Aussie off lows - Reuters
Forex pairs in this Article » AUD/USD
FXstreet.com (Barcelona) - According to a headline from Reuters, "China's northeast city of Tianjin plans to invest 1.5 trillion yuan ($236 billion) in 10 major industries over the next four years, the local government said on its website, joining other cities in rolling out big spending plans to boost its economy" the news outlet published. AUDUSD has seen a minor bounce off technical support at 1.0435, with the China stimulus news most likely to have encouraged some traders to ride the timid upleg off overbought readings in Asia, where the pair has been on a steady slight since losing levels above 1.05 in the last US session. AUDUSD is currently quoted at 1.0453.