AUD/JPY surge on the Trump tweet - risk favourable
If you are a noob and wondering what it is that moves markets, ask yourself the question:
Is it two data points indicating the health of an economy of a country of 126+ million people?
- Japan - PPI for August: -0.3% m/m (expected -0.2%)
- Japan Core Machine Orders for July: -6.6% m/m (expected -8.0%)
Or, is a tweet of the whims of one guy?
The message of the tweet, I take as, the continuing sings of a slight thawing in US - China relations. Will it last? My guess is no, but now is not the time to be sceptical, its happy time!
Risk positive, AUD benefits and yen declines. AUD/JPY a winner: