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AUD/USD softens after China’s August trade surplus report

China’s August trade surplus widened to $119.1 billion, while AUD/USD fell 0.15% to about 0.7208 after the data.

Reported · Written up by our desk · Major Pairs

China’s August trade balance in USD terms arrived at a $119.09 billion surplus, nearly matching $119.1 billion expectations but above the prior month’s $112.5 billion, according to data from China’s General Administration of Customs as summarized by FXStreet.

The report also showed exports rising 25.0% year over year in August, imports up 28.2% year over year but slower than the 30.0% forecast, and the surplus widening in CNY terms to 809.3 billion.

FXStreet said AUD/USD attracted bids near its daily low after the release, a reaction it framed as a liquid proxy for Beijing’s economy, but the pair still traded about 0.15% lower near 0.7208.

In the same market rundown, FXStreet noted USD/JPY was near six-month lows around 153.50 in the Asian session, supported by Japanese wage growth and a Q2 GDP revision that reinforced expectations for a Bank of Japan rate hike next week.

Latest closeUSD/JPY 157.84 ▼0.3%

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