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USD trading with mixed dynamic in Asian session (19.10.2017)

5 Views· 03/15/20
Aryel Narvasa
Aryel Narvasa
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A large batch of macroeconomic data was released during the Asia Pacific session.
In the early Asian trade, the dollar/yen pair rose above 113.00, the highest level in two weeks. In the European premarket, the pair is making a downward correction. Analysts expect the pair to trade around 112.80.
Japan presented a foreign trade report which revealed a notable increase in trade proficit. Japan's trade balance for September was a surplus of 670 billion yen. That was higher than a 560 billion yen surplus expected by economists in a Nikkei survey.
Besides, China released a report on its economic growth in the third quarter. China's GDP expanded by 6.8% in the July-September period from a year earlier that matched a median forecast. China's GDP grew 1.7% in the third quarter from the previous three months on a quarterly basis.
Industrial output in China accelerated at a faster pace in September after sharp decelerations in the previous two months. So, industrial output jumped 6.6% last month from a year earlier.
The Australian dollar found support in the upbeat macroeconomic data from China. Thus, the AUD/USD pair is heading upward for 0.7880.
In a report on Australia’s labor market, the economy added 19,800 new jobs in September, more than in the forecast. Australia's unemployment rate unexpectedly fell to 5.5% last month.
Meanwhile, the US dollar is making a downward correction. Today, market participants await a series of market-moving data from the US that could provide the greenback with a boost.

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