AUD/JPY rises near 113.00 after Japan’s Q2 GDP misses expectations
The Australian Dollar has gained against the Japanese Yen, with the AUD/JPY cross trading near 113.00. This comes after Japan’s Q2 GDP expanded at an annualised 1.1%, below the market consensus of 2.0%.
The weaker-than-expected GDP data has softened the Japanese Yen. Economists had anticipated a stronger growth, but the actual figure fell short, also below the first quarter’s reading of 1.8%.
Traders are now awaiting the release of the Australian July employment report, which could further impact the AUD/JPY cross. Japan’s National Consumer Price Index inflation data is also due, providing more insight into the country’s economic performance.
The mixed economic data has resulted in a bullish bias for the AUD/JPY cross above the 100-day SMA, with traders watching for further developments in the coming days.