Aussie In Focus In Asia Ahead Of China Prices Data
Investing.com - The Aussie is in focus in Asia on Friday with China consumer prices ahead following on from trade data on Thursday that showed a sharp jump in imports.
AUD/USD was last quoted at 0.7782, while USD/JPY was quoted at 108.76.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was last quoted up 0.03% to 90.19.
In China, consumer prices are due with a 0.7% gain seen on month for January and a 1.5% rise seen on year. Producer prices are expected up 4.3% on year. The Aussie's fortunes are closely ties to economic conditions in top trade partner China.
China reported trade balance data with a $20.34 billion surplus, compared to a $54.10 billion surplus seen for January, data released on Thursday showed.
Exports rose 11.1%, compared to a 9.6% gain seen and up from 10.9% in December, while imports soared 36.9%, compared to a 9.8% rise expected, and a jump from 4.5% in December.
Overnight, the dollar traded lower against a basket of major currencies easing off session highs as US bond yields pared some of their gains but remained well supported.
The vote comes amid opposition from both sides of the political isle amid concerns that the budget deal does nothing for young immigrants. The budget deal would have to be passed before midnight to avoid a government shutdown.
Upbeat labor market data, meanwhile, did little to offset risk off sentiment investor jitters as the safe-haven yen made strong gains against the greenback.
The U.S. Department of Labor reported Thursday that initial jobless claims decreased 9,000 to a seasonally adjusted 221,000 for the week ended Feb. 4, beating forecast for a 6,000 increase.
GBP/USD rose after the Bank of England stood pat on interest rates but signalled that rate hikes could be needed earlier than expected as the rapid pace of inflation continued.
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