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.

Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
More View more
Real Time News
  • US President Donald Trump spoke with Italian PM Giuseppe Conte about efforts to combat #coronavirus - BBG
  • Heads Up:🇯🇵 JPY Industrial Production (YoY) (FEB P) due at 23:50 GMT (15min), Actual: N/A Expected: -4.9% Previous: -2.3% https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇯🇵 JPY Large Retailers' Sales (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: -1.6% Previous: -1.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇯🇵 JPY Retail Trade (YoY) (FEB) due at 23:50 GMT (15min), Actual: N/A Expected: -1.5% Previous: -0.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • 🇯🇵 JPY Jobless Rate (FEB), Actual: 2.4% Expected: 2.4% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • The Japanese Yen shared fully in the broad Dollar weakness which has come with global stimulus efforts. $USDJPY's medium-term downtrend looks quite comfortably in place. Get your USD/JPY market update from @DavidCottleFX here:https://t.co/5io7seTGyk https://t.co/bTmDlf5LLv
  • Heads Up:🇯🇵 JPY Jobless Rate (FEB) due at 23:30 GMT (15min), Actual: N/A Expected: 2.4% Previous: 2.4% https://www.dailyfx.com/economic-calendar#2020-03-30
  • 🇬🇧 GBP GfK Consumer Confidence (MAR), Actual: -9 Expected: -15 Previous: -7 https://www.dailyfx.com/economic-calendar#2020-03-30
  • Heads Up:🇬🇧 GBP GfK Consumer Confidence (MAR) due at 23:01 GMT (15min), Actual: N/A Expected: -15 Previous: -7 https://www.dailyfx.com/economic-calendar#2020-03-30
  • $EURUSD chart positioning hints the Euro may be running out of steam following a spirited recovery but sentiment studies continue to argue for the upside.Get your EUR/USD market update from @IlyaSpivak here:https://t.co/zp2oz1G2QZ https://t.co/YsxURDW4aT
Australian Dollar Sinks, Yen Gains on Dismal Chinese Trade Report

Australian Dollar Sinks, Yen Gains on Dismal Chinese Trade Report

2014-03-09 21:22:00
Ilya Spivak, Head Strategist, APAC
Share:

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 DailyFX.com

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.

DISCLOSURES

News & Analysis at your fingertips.