Yen and Aussie rise backed by China trade and regional data

8 September 2016, 16:22
Eko Rediantoro

On Thursday, the Japanese yen and Aussie soared in Asia, as China trade figures came in better than seen, thus aiding market sentiment after regional trade figures as well as Japan GDP performed above expectations.

The currency pair USD/JPY traded at 101.69, slumping 0.0% after the current account and GDP data. Meanwhile, AUD/USD was worth 0.7682, rising 0.12% after trade data.

The world's number two purchaser of the precious metal behind India, China posted a trade balance surplus of about $52.05 billion, which is narrower than the $58.00 billion observed for August with exports tumbling 2.8%.

Earlier, Japan reported second quarter GDP demonstrated a shocking 0.2% revenue, from a flat level expected quarter-on-quarter and edged up at a 0.7% pace year-on-year, quite above the 0.2% profit observed.

In Australia, trade data revealed a balance deficit of approximately A$2.41 billion, which is narrower than the A$2.75 billion observed for July.

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