Aussie tries to gain on Chinese GDP

Australian dollar strongly move with the beginning of the week’s session but almost in narrow ranges after its previous decline to the lowest in years versus dollar last week.

Chinese economic growth data came to meet expectations and less than the previous reading, where Chinese economy grew by 7.5% during the second quarter of the year, where the reading left a weak impact on currencies markets.

American dollar kept its previous gains against Japanese yen and other major currencies, where eyes are monitoring retail sales in the U.S. and the upcoming steps by the Federal Reserve Bank.

 Australian dollar inclined versus its counterpart American dollar, where the AUD/USD pair inclined to high of 0.9108 after hitting its lowest in year last week at 0.8997. AUD/JPY pair inclined also to high of 90.35.

USD/JPY pair traded near 99.20 during today’s session, while the EUR/JPY pair inclined to 129.76 as the pair may notice narrowed trades during the upcoming short period.

EUR/USD pair fell today to record its low at 1.3060, while the highest was 1.3075 amid the recent weak trades.