News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Australian Dollar Sinks, Yen Gains on Dismal Chinese Trade Report

Australian Dollar Sinks, Yen Gains on Dismal Chinese Trade Report

Ilya Spivak, Head Strategist, APAC

The Australian Dollar plunged while the safe-haven Japanese Yen pushed higher to start the trading week in the wake of a dramatically disappointing set of Chinese Trade Balance figures reported over the weekend.

The report showed a monthly deficit of -$22.99 billion, marking the first negative reading in 11 months and the largest since February 2012. The plunge in exports was particularly dramatic, with overseas sales down -18.1% year-on-year to produce the largest drawdown since August 2009.

China is Australia’s largest trading partner and the dismal data set fueled concerns that a slowdown in the former country will reverberate in the latter, undermining the probability that the RBA’s next move might be an interest rate hike after the current period of stability.

AUD/USD, USD/JPY – 5min Chart

Australian_Dollar_Sinks_Yen_Gains_on_Dismal_Chinese_Trade_Report_body_Picture_5.png, Australian Dollar Sinks, Yen Gains on Dismal Chinese Trade Report

Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.