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AUD/USD, AUD/JPY analysis: Employment report cools RBA-hike bets
With wage growth slightly above expectations yesterday, a strong employment report could have seen further calls for RBA to hike in June. Only, employment was softer.
AUD outlook: RBA on track to hold (again) on softer inflation?
Quarterly inflation figures for Australia back up hopes that peak inflation has indeed arrived, which could keep the RBA on track for another pause next week.
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The Yen repatriation trade appears to be back in play
The Japanese yen has surged higher during today’s Asian session, suggesting the end of fiscal year repatriation trade is in play.
Sentiment improves as China data boosts hopes of 5% growth
The government’s recent 2023 growth target of ‘around’ 5% seems to be on track according to the NBS, which helped commodity FX and indices rise during the Asian session.
AU employment miss adds to the Aussie's woes
A weak lead form Wall Street weighed on the Aussie overnight, with today’s employment miss adding to its downside pressure.
Not for the first time, the BOJ spite the hype (presser pending…)
There were high expectations from the BOJ at today’s meeting, yet what they delivered was a nothing burger. That is classic BOJ!
The yen continues to rise as traders bet on BOJ policy shift
The yen was the strongest currency overnight as traders reacted to weak manufacturing PMI data over the weekend, and the potential for the BOJ to adjust their policy.
European Open: Buckle up, we could be in for a bumpy session
The volatile moves seen across yen pairs overnight does not bode well for risk appetite today, given traders across Europe and the US are yet to react to the BOJ.
Australian inflation fell… but just ‘weight’ a minute
Whilst Australia’s final inflation print for the year remains high by historical standards, it was much lower than expected at 6.9% y/y
AUD/JPY and NZD/JPY looking good for longs!
AUD/JPY and NZD/JPY formed bullish engulfing candles today, trading to their highest levels since 2015.
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Could a 50-bps Fed hike (inadvertently) weigh on sentiment? AUD/JPY
As daunting as a 75-bps hike may seem, it could be argued that if they didn’t hike so aggressively today then they’re still not doing enough to fight inflation.
RBOB Gasoline Futures have strong positive correlation with AUD/JPY!
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European Open: The RBA opt for a nifty 50, USD/JPY breaks 132
The RBA didn’t hold back and opted for a 50-bps hike at today’s meeting, which is a first since February 2000.
European Open: Futures point higher, AUD/JPY probes key resistance
European index futures have opened higher, suggesting sentiment remains buoyant after Friday’s rally. And that could bode well for a potential breakout on AUD/JPY.
Soured sentiment keeps AUD/JPY on the ropes
Concerns that the US is headed for stagflation weighed on sentiment yesterday, which has placed AUD/JPY back onto our bearish watchlist.
European Open: Bruised equity bulls look to US CPI for a reprieve
Given US indices are holding support levels after the latest selloff, a soft inflation print could be the catalyst to lift equities from their lows.