Exports went up by 3 percent (month-to-month), after contracting by 4.2 percent in the previous month. On the other hand, imports declined by 1 percent after climbing by 2 percent in the previous month.
The number of reported COVID-19 cases have continued dwindling. The Victoria state government, one of the current epicenters of the virus, reported for the first time in four months that there were no new coronavirus cases within the past 24 hours. In the same way, new deaths were not reported in the last 24 hours
The regional government is now planning to lift some of the restrictions it had imposed to stop the advance of the pandemic. Victorian State Premier Daniel Andrews responded to the news by announcing that the pandemic is under control and it's now time to reopen the economy.
"Now is the time to open up. Now is the time to congratulate every single Victorian for staying the course," he said.
So far, 80,811 coronavirus cases have been reported in Australia, with a death toll of 979.
Japan's Economy Shows Moderate Sign of Improvement
The Japanese cabinet office reported on Monday that Japan's Leading Economic Index stood at 88.4 in August, hinting an improvement in the state of the Japanese economy, though the number still lagged analysts' expectations which predicted a reading of 88.8.
The Coincident Index, which also tracks the current state of the Japanese economy, was at 79.2 in August, below analysts' forecasts which predicted a reading of 79.4, up from 78.3 in July.
Despite these signs of improvement, the cabinet office commented that the current state of the Japanese economy remains severe despite the recent signs of improvement. Because of this, economic recovery may take some time.
By 4:19pm HK/SIN the US dollar was up 0.17 percent against the Japanese Yen, hitting the 104.86 level. The dollar also gained against the euro and the British pound. The sterling fell 0.268 percent against the greenback to $1.301, and the euro was down 0.287 percent to $1.183.