20 Jan 2014
AUD/JPY bounces after Chinese data
FXstreet.com (Córdoba) - The AUD/JPY reached a new daily high at 91.62 after the release of economic data in China. The Aussie reacted to the upside across the board, extending the recovery after hitting fresh lows.
Earlier in Asia, on the back of a strong Yen, the AUD/JPY fell to 91.03, hitting a 1-month low. But found support and bounced to the upside, rising further after economic reports. At the moment of writing the pair trades at 91.45, slightly off session highs.
The National Bureau of Statistics in China reported that GDP grew at a rate of 7.7% in the fourth quarter, below the 7.8% of the previous quarter, but barely above expectations of 7.6%. Other data, included industrial production that rose in December 9.7% from the previous year, (slightly below the expected 9.8%) while retail sales climbed in line with expectations 13.6%.
Earlier in Asia, on the back of a strong Yen, the AUD/JPY fell to 91.03, hitting a 1-month low. But found support and bounced to the upside, rising further after economic reports. At the moment of writing the pair trades at 91.45, slightly off session highs.
The National Bureau of Statistics in China reported that GDP grew at a rate of 7.7% in the fourth quarter, below the 7.8% of the previous quarter, but barely above expectations of 7.6%. Other data, included industrial production that rose in December 9.7% from the previous year, (slightly below the expected 9.8%) while retail sales climbed in line with expectations 13.6%.