The Bank of Japan decided to keep interest rate near zero at 0.10% during the emergency meeting, while keep the bank’s loan program unchanged and monthly government bonds purchase at 1.8 trillion yen, also absent from today's statement was a specific reference to intervention in the currency market.

The BOJ announced that it will increase the amount of funds by 10 trillion yen, while the Bank increased its credit program to 20 trillion yen ($232 billion) during March, and in June unveiled a 3.0 trillion yen package to support short-term loans.

The Yen's advance has a negative effect on the companies' earnings, where gains in the Japanese currency especially versus its major counterpart the dollar, reduces Japanese annual operating profits as well as hammers exports.

On the other hand, the Japanese prime minster noted that monetary policy makers are prepared to take effective actions, and he expects the BOJ to take further steps in the upcoming period.

Yet, the economy announced that there is an economic plan, where Japanese government is working to support the recovery by offering shoppers incentives to buy energy-efficient cars and electronics, helping to increase consumer spending, which accounts for more than 50% of the growth, while some of the government’s incentives programs were scheduled to expire this year ز

As for The Australian economy, the second quarter Gross Domestic Product showed the economy expanded by 1.2% from the previous 0.5% revised to 0.7%, while the forecasted was 0.9%; on the year the economy expanded by 3.3%, compared with the previous of 2.7%, while expectations was 2.8%.

The Australian economy expanded in the 2nd quarter as the nation's export rose, which was supported by China's demand for iron ore and coal that has increased, prompting Chinese companies to extend their production during the current period.

According to the GDP report; exports, which are one of the main pillars for economic growth in Australia, climbed 5.6% during the second quarter, adding 1.1 percentage points to GDP, and household spending advanced 1.6%, adding 0.9 percentage points to gross domestic productز 

The trade surplus narrowed to A$1888 million in July, compared with the previous of A$3539 million that was revised to A$3438 million, and it came less than analysts' estimates of A$3100 million.