How to trade the JPY?
Happy Friday, traders! Are you ready to trade at the end of the week? Here’s what you need to know before you start:
Australian dollar holds jobs data gains on China’s upbeat GDP
On Thursday, in Asia, the Australian dollar held revenues after jobs data. Additionally, major Chinese data on GDP as well as industrial output underpinned market sentiment of continued firm demand from a leading export destination.
The currency pair AUD/USD hit 0.7851, ascending 0.06%, USD/JPY reached 113.00, gaining 0.05%, while EUR/USD showed an outcome of 1.1802, tacking on 0.13%.
As for the US dollar index, tracking the US currency’s strength against six key currencies, it slumped 0.05% hitting 93.25.
China’s third quarter GDP pleasantly surprised traders with a 1.7% leap on quarter as well as 6.8% surge on year.
As for Japan’s trade balance, it demonstrated a surplus of about ¥670 billion, which is wider than September’s ¥560 billion surplus.
Besides this, Australia posted jobs data with 19,800 employees added versus 15,000 under employment change anticipated. It enabled the unemployment rate to sink to 5.6% to 5.5%.
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