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2 Sep 2015
AUD/JPY: up on a positive close in the US
FXStreet (Guatemala) - AUD/JPY has found a stable footing on the 84 handle while the Yen is edging back across the board as global equities bounce back again in volatile conditions.
The Chinese stocks were trimming earlier losses in Asia yesterday, from an open of -4.4% in the Shanghai Composite. However, as the day progressed, the SHCOMP ended down by only 0.2% and the Shenzhen Composite was down just 2%. The stock market performances overshadowed the dire GDP from Australia that arrived as 2.0% vs 2.2% expected Y/Y and 0.2% vs 0.45 M/M.
At the end of the US session today, AUD/JPY has found the upper bracket of the 84 handle and has been posting the highs for the day on a positive outcome from Wall Street as stocks jumped almost 2 percent and S&P 500 futures up 1.6% in to the close in NY and index at closed up 1.83% We now await retails sales from Australia and also, the RBA are to publish a research paper, titled, "Unprecedented Changes in the Terms of Trade", that may give some hints on the the Aussie and economy.
Technically, the cross is testing the 50 SMA on the hourly chart and MACD stabilizing in the blue for the same time frame, although in a bearish trend post Black Monday.
The Chinese stocks were trimming earlier losses in Asia yesterday, from an open of -4.4% in the Shanghai Composite. However, as the day progressed, the SHCOMP ended down by only 0.2% and the Shenzhen Composite was down just 2%. The stock market performances overshadowed the dire GDP from Australia that arrived as 2.0% vs 2.2% expected Y/Y and 0.2% vs 0.45 M/M.
At the end of the US session today, AUD/JPY has found the upper bracket of the 84 handle and has been posting the highs for the day on a positive outcome from Wall Street as stocks jumped almost 2 percent and S&P 500 futures up 1.6% in to the close in NY and index at closed up 1.83% We now await retails sales from Australia and also, the RBA are to publish a research paper, titled, "Unprecedented Changes in the Terms of Trade", that may give some hints on the the Aussie and economy.
Technically, the cross is testing the 50 SMA on the hourly chart and MACD stabilizing in the blue for the same time frame, although in a bearish trend post Black Monday.