Early Wednesday morning in Asia, China’s Vice Premier Liu He crossed wires, via Reuters, saying that the dragon nation’s 2021 GDP growth will exceed the goal. 

The No. 2 also said that China must maintain continuity and stability in its macroeconomic policy.

It’s worth noting that Goldman Sachs cut China 2021 GDP forecasts to 7.8% from 8.0% while citing Evergrande and power cut problems in September.

Following that, China's annualized GDP figures for the third quarter of 2021 arrived at 4.9% vs. 5.2% expected and 7.9% previous, with the QoQ reading coming in at 0.2% vs. 0.5% expected and 1.3% last.

FX reaction

While the news should have favored AUD/USD buyers to defend the bounce from yearly low around 0.7130, cautious sentiment ahead of Australia’s Q3 GDP and risk-off mood in the market probe the Aussie pair by the press time.

Read: AUD/USD bears await for downside to resume again from 61.8% golden ratio