The Australian dollar gained against the Japanese yen today after macroeconomic data showed that China’s economy is stabilizing. The Aussie also advanced versus the US dollar, but later pared its gains.
China’s industrial production rose 9.2 percent and retails sales grew 14.2 percent in September from a year ago. Market expectations were at 9.0 percent and 13.2 percent respectively. At the same time, nation’s economic growth eased to 7.4 percent in the third quarter from 7.6 percent in the preceding quarter. The MSCI Asia Pacific Index of stocks advanced 0.8 percent.
AUD/USD fell from 1.0381 to 1.0366 as of 14:28 GMT today, following the advance to 1.0409. AUD/JPY went up from 81.94 to 82.16.
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