AUD/JPY drops to near 87.80 as monthly Australian inflation softens to 6.8% – by Sagar_Dua24 AUDJPY RBA BOJ Inflation RetailSales
Index . The economic data has landed at 6.9%, lower than the consensus of 7.1% and the former release of 7.4%.expanded 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 bearing the burden of higher inflation and are facing issues in offsetting the impact of inflated products with current paying capacity.
The collaborative effect of weaker Retail Sales and softening price index would support the Reserve Bank of Australia in keeping monetary policy unchanged in its April meeting. Investors should be aware of the fact that RBAGoing forward, China’s Bureau of Statistics will report Manufacturing and Non-Manufacturing PMI data on Friday. A decent performance is expected by the market participants as the Chinese economy is promoting growth through monetary measures after dismantling pandemic controls.
On the Japanese Yen front, the ex-bank of Japan Governor Haruhiko Kuroda remained extremely dovish for further monetary policy as the sustainable inflation target has not been met yet. He further added, “It is premature to debate an exit from easy monetary policy.” And, “More time is needed to stably and sustainably hit the price target.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/JPY corrects to near 87.20 as Australian Retail Sales remain weaker-than-anticipatedThe AUD/JPY pair has slipped to near 87.20 as the Australian Bureau of Statistics has reported weaker Retail Sales data. The economic data has expande
Read more »
AUD/JPY traces firmer yields around 87.50, Aussie Retail Sales, BoJ’s Kuroda eyedAUD/JPY seesaws near 87.50, following a clear rebound from the one-year low, as bulls await the key catalysts from Australia and Japan during early Tu
Read more »
AUD/JPY Price Analysis: Pair bounces back from 86.00 level as risk sentiments improveThe risk proxy AUD/JPY has fallen sharply after reaching the March high near the 92.00 psychological mark on a daily timeframe, as demand for the safe
Read more »
AUD/JPY Price Analysis: Climbs despite a sour market sentiment, buyers' eye 88.00AUD/JPY edges down as the Asian session begins, but Tuesday’s gains opened the door for further upside in the pair. However, the AUD/JPY is still down
Read more »
Aussie Retail Sales in line, AUD/USD prints session highThe Retail Sales released by the Australian Bureau of Statistics has been released as follows: Australian Retail Sales MoM final actual 0.2% (forecast
Read more »