This trading week began with positive news about a steady economic advance in China. In this context amid lack of Trump's defiant tweeks, the USD/JPY pair is still trading higher that indicates growing risk appetite among investors. Having reached 112.80, the pair has been trapped in a trading range from 112.40 to 112.50. Traders are anticipating the news from the summit between China and the EU, which is being held today in Beijing. The main point on the agenda is a joint strategy among the US trade protectionism. Meanwhile, the macroeconomic environment nudged up riskier assets. China's GDP rose 1.8% on a quarterly basis in the second quarter, beating optimistic forecasts for an increase of 1.6%. China's retail sales have displayed robust growth.
However, industrial production has slowed down a pace of growth. Nevertheless, this information was upbeat enough to invite buyers of the Australian dollar back to the market. The AUD/USD pair is trading slightly above 0.7400. The strength of the Aussie dollar could be short-lived. Tomorrow, the Reserve Bank of Australia is due to release the minutes of the latest policy meeting that could push the AUD/USD pair back to the downward trajectory. Amid the busy economic calendar and events in the political arena, traders are braced for another turbulent trading week.