AUD/JPY corrects to near 87.20 as Australian Retail Sales remain weaker-than-anticipated – by Sagar_Dua24 AUDJPY RBA Inflation RetailSales BOJ
d by 0.2%, lower than the consensus of 0.4% and the former release of 1.9%. A weaker-than-expected retail demand indicates that households are facing issues in offsetting the impact of inflated products with the current paying capacity.
The headline might show deteriorating retail demand but is delightful for the Reserve Bank of Australia , which is working on containing elevated inflation. This week, the Australian Dollar is expected to remain in the spotlight ahead of the release of the monthly Consumer Price Index data, which is scheduled for Wednesday. As per the expectations, the inflation data will soften to 7.1% from the former release of 7.4%.
RBA policymakers have already stated that there is evidence, which indicates that Australian inflation has started easing. And, the RBA could terminate its policy-tightening process from April’s monetary meeting as the current monetary policy is restrictive enough to tame the stubborn inflation.by the National Bureau of Statistics will be the key trigger for the Australian Dollar. The Chinese economy is focused on the path of economic recovery after dismantling pandemic controls.
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