June 9: Asian session
Asian shares rose after data on Japanese growth, US employment and Chinese exports improved the outlook for the global economy. MSCI Asia Pacific Index gained 0.15%.
USD/JPY is little changed in the 102.50 zone. Japan reported a smaller current-account surplus than economists predicted, reducing the currency’s status as a haven. At the same time, Japanese final Q1 GDP was revised up from 1.5% to 1.6%.
Commodity currencies are in demand on Monday, inspired by the Chinese trade data over the weekend (trade surplus 35.9B vs. expected 22.6B) and the upside revision of the Japanese GDP data. AUD/USD is testing the Friday’s high at $0.9360 to the upside. The RBA Governor Glenn Stevens will hold a speech today at 16:00 GMT. NZD/USD rose to $0.8520, but remains below the Friday’s peak of $0.8555.
EUR/USD is trading just below resistance at $1.3650. German and French banks are closed for a holiday. GBP/USD is tradinginthe $1.6800 area.