AUD/JPY holds steady at the 97.00 level, Australian trade data shines 🚀

The AUD/JPY has been climbing since August 21. Now? Around 97.00. Quite stable. Australia's July trade data was surprisingly good, and this currency pair appears particularly resilient in Asian market trading. 🌟

Check out the data. Australia's trade surplus in July soared to 7310 million AUD. Far exceeding the expected 4920 million. Previously it was 5366 million. It seems that exports increased by 3.3%, while imports decreased by 1.3%. Really good. 💹

This strong data, combined with the relatively stable GDP from not long ago (quarterly growth of 0.6% and annual growth of 1.8%), makes it feel like the market's expectations for the RBA to cut interest rates have cooled. The swap market believes there is a 90% chance that the RBA will hold steady at the end of September. Quite interesting. 🔍

Looking at Japan again. The central bank governor Ueda Kazuo has spoken. Economic growth and inflation are developing as expected, and the interest rate hike path remains unchanged. Japan's trade negotiation representative Akizawa Yoshio is in the United States. Advancing negotiations. Striving for the implementation of the tariff agreement. 🌐

Looking ahead, the Australian economy is expected to recover around 2025 (GDP is projected to grow by 2.0%). Coupled with strong trade performance, the Australian dollar seems likely to continue leading other currencies. Especially if the Reserve Bank of Australia maintains stability, there is still room for the AUD/JPY to rise. The future is uncertain, but the signs are very positive. 🔥

By the way, the AUD/USD is around 0.65. Australia also faces a current account deficit of 1.47 billion AUD, which is not without challenges. However, trade data indicates that the export sector is very vibrant. The AUD has support. It looks good. 🌕