AUD/JPY flirts near 80.10 on Aussie data, RBA’s cautious tone
|- AUD/JPY accumulates losses on Thursday’s following a previous day’s decline.
- RBA bulletin, Unemployment data and Consumer sentiment plays the pivot role in the Aussie movement.
- Yen gains on general risk-off sentiment on its safe-haven appeal.
AUD/JPY refreshes daily lows in Thursday’s Asian session. The pair retreated from the higher levels on RBA cautious approach to China economic performance and the COVID-19 situation.
As of writing, the AUD/JPY is trading at 80.06, down 0.14% for the day.
The pair came under renewed selling pressure after the Reserve Bank of Australia (RBA) today released its quarterly bulletin despite upbeat economic data.
The employment rate dropped by 146K as compared to the market consensus of 90K as per the Australian Bureau of Statistics. However, the ‘ hours worked’ indicators witnesses a huge drop of 3.7% in July. The jobless rate saw a drop of 4.5% in August from 4.9% in June.
The inflation expectations in Australia eased to 3.30% in August from 3.70% in July.
The sentiment was sour after New South Wales, Australia’s largest population state reported a jump in fresh CoVID-19 cases. There were fresh 1351 cases were recorded on Wednesday as compared to 1259 a day earlier.
It is worth noting that S&P 500 Futures was trading at 4,480, up 0.85% for the day.
The Japanese Yen gains on the optimism after a Reuters poll reported that 53% of Japanese firms expected the economy would recover to pre-pandemic levels by end of the financial year 2022.
As for now, market dynamics continue to influence the pair’s performance for the time being.
AUD/JPY additional levels
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