1. Hello Guest Click here to check FX Binary Point Financial Directory

AUD/JPY off highs post Japan Q4 GDP, China re-open eyed

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    AUD/JPY is coming off highs, trading currently at 80.60/65 session lows after being rejected just ahead of the 81.00 handle, with a disappointing Japanese Q4 GDP failing to stimulate further Yen selling, despite it adds further pressure on the BOJ to act.

    Japanese Q4 GDP stats

    Japan Q4 GDP came in at -0.4% q/q vs -0.2% expected, while GDP annualized stood at -1.4% y/y vs -0.8% expected and +1.0% last. As per GDP nominal (seasonally adjusted), it came in at -0.3%% q/q vs -0.1% expected and +0.4% last. The GDP deflator was 1.5% y/y vs 1.6% expected and 1.8% last, with GDP consumer spending at -0.8% y/y vs -0.6% expected and 0.4% prior. Lastly, GDP business spending came at 1.4% y/y vs -0.2% expected and +0.6% last.

    China takes center stage

    In today's Asian trade, the focus has shifted to the re-open of Chinese markets, returning after being closed for a full week due to the Chinese new year celebrations. The rout in global stocks seen during the period of closure in China is keeping traders understandably cautious, as investors in China may feel tempted to discount the latest negative swings and tracking the pessimistic mood globally by dumping shares, which would undoubtedly weight on the AUD/JPY. Chinese trade balance numbers due around 2GMT will also be key to set the tone for the session.
    For more information, read our latest forex news.

Share This Page