ForexLive Asia FX news wrap: AUD & NZD /JPY higher

Author: Eamonn Sheridan | Category: News

Forex news for Asia trading Monday 15 July 2019

AUD/JPY a gainer for the session here, as were many yen crosses.

The session began slowly, not unusual for a Monday morning in Asia, but took a little longer to kick into gear with a holiday for Japanese markets today (they are back on Tuesday). 

The moves were minor leading up to big data releases from China today - Q2 GDP along with 'activity data' for June (industrial production, retail sales and investment). On the whole, the Chinese data came in surprisingly strong. It wasn't all great, while GDP met expectations, at 6.2% y/y its tracking at its lowest in 27 years. 

On the other hand, industrial production recorded a huge beat (see bullets above) but a caveat is it came off a 17 year low in the previous month. Retail sales too, a good beat. The key takeaway (data veracity notwithstanding) is stimulus appears to be having an impact. That would appear to be the key takeaway for forex, AUD/JPY has traded higher for the session with flows to AUD and out yen. Other yen crosses fared well also. 

NZD/USD has also seen benefit, even more so than AUD (commiserations to NZ on the cricket BTW). Still looking against the USD it was a net flat sort of session for EUR, GBP (congrats on the cricket!).


Forex news for Asia trading Monday 15 July 2019

Gold opened better bid to begin the week but has slid back from early highs to be net a few dollars lower on the session. BTC had a poor weekend, under $10,000 at one stage (briefly only). 


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