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AUD/USD Reached Weekly Highs Amid Upbeat Data From China

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AUD/USD traded higher, above 0.7300 levels in early Europe sessions, as investors digest a fresh upbeat data from China.

Earlier in the Asian session, the pair slipped to 0.7265 amid a strength in U.S. dollar, as Brexit risks elevated after the UK government won the the vote on the controversial Internal Market Bill.

Meanwhile, after Reserve Bank of Australia (RBA) released its September minutes, the investors are optimistic as the bank was not worried about the appreciation of the AUD. However, the RBA wished for a lower exchange rate, which could support the economic recovery.

Also, the AUD is benefiting from upbeat data from China, which the country industrial output rose by 5.6% in August, while retail sales increased by 0.5%, above market expectations.

Focus are now on Fed decision on Wednesday, Investors will be looking on Fed updated forecasts for employment, inflation and GDP.

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