DJIA25734.97
LIVE-77.91(-0.30%)
NDX10279.25
LIVE122.40(1.21%)

AUD/JPY rises to 3-week high after Australia's trade balance data


Thursday, 5 September 2019 09:22 WIB

YenAussieAUD/JPY


c_740_198_16777215_00_images_assets_CURRENCY3_Aud-1-640x420.jpg

Despite weaker than expected and prior Australian trade balance numbers, AUD/JPY escalates its previous run-up to fresh three-week high while taking the bids to 72.70 during early Thursday.

Australia's July month trade numbers flashed mixed outcomes as the headlines Trade Balance slipped beneath 7,400M forecast and 8,036M prior to 7,268M actual while Imports grew 3% versus -4% prior contraction. Further, Exports remain unchanged with 1% growth.

It should also be noted that upbeat comments from the Fed’s Beige Book, Bank of Canada (BOC) and a lack of dovish statements from the Fed speakers offered additional assurance to risk-takers. Furthermore, the latest news from China’s Commerce Ministry that the US-China trade talks will take place in October in Washington adds strength to the market bulls.

As a reaction, the US 10-year treasury yields are gaining nearly six basis points (bps) to 1.516% by the press time.

Having witnessed initial reaction to Australia’s trade balance, investors are left with no major data from either Australia or Japan, which in turn increases the importance of trade/political news headlines to determine near-term pair moves.

Technical Analysis

The pair’s needs a sustained break above 72.37/38 area including falling trend-line since August 02 and 38.2% Fibonacci retracement of July-August downpour in order to aim for 73.18/22 area including August 02 high and 50-day exponential moving average (EMA). If prices fail to hold recent upside momentum, 21-day EMA level of 72.12 and August 29 top surrounding 71.80 could flash on the sellers’ radar.

Source: FXstreet


RELATED NEWS

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.