Forex Today: China trade surplus rises to records, bulls remain cautiously hopeful

In forex today, the big news of the Asian trading session was China's trade balance, which surged to a record high against the US and is sure to draw ire from policymakers in America, with US President Donald Trump pushing the two nations further into a trade war in an effort to decrease the China-US trade balance.

Chinese trade balance hits record amidst little fanfare

China's trade balance beat wasn't able to inspire the Aussie into any meaningful momentum, and the AUD/USD remains trapped at the week's highs near 0.7130, while the Greenback enjoyed a mild bounce against the Japanese Yen in early Friday action, lifting back above the 112.00 handle and trading into 112.40 ahead of the European market session.

EUR/USD nears 50-day EMA hurdle, stock plunge shock wearing off

The Euro cracked the 1.1600 level in Asian markets as the week's 'stock shock' begins to wear off, and the Euro's rise on the week could see challenges ahead as Italy remains a significant bearish headwind for the EUR.

GBP/USD: Closing on 200-day EMA on Brexit optimism

UK investors are remaining confident that the current progress in Brexit talks could translate into hard action and agreements between the European Union and Britain, and the Sterling is enjoying a good rise against the US Dollar, poised for a challenge of the 200-day moving average.

Key notes from the Asia session

China's trade surplus with the US hit record highs in September

IMF: sustained trade tensions and Fed tightening to hurt Asian growth

China probe of local government debt exposing deeper liabilities than reported - Yicai Global