- Geopolitics, trade developments gain major market attention.
- Australia/China housing price data and RBA minutes are in the spotlight.
With the US-China trade war and geopolitical tension between the US and Iran grabbing the spotlight, AUD/JPY remains on a back foot to 74.40 ahead of housing market data from Australia and China up for release during early Tuesday.
Latest news from Bloomberg signals that China’s holdings of the US Treasuries slipped to $1.113 trillion in April versus March month figures of $1.121 trillion. The trade war between the two countries has been spotted in the report as a reason for the decline in China’s treasury holdings.
Elsewhere, Reuters came out with a news report citing unnamed US official saying that the nation is preparing for sending additional troops to the Middle Ease amid threats from Iran.
The Japanese Yen (JPY) is considered risk safe and often sought in terms of market uncertainties.
Looking forward, house price Index data from China and Australia, coupled with minutes of the latest RBA meeting, could direct near-term pair moves.
While May month housing price figure from China grew 10.7%, its counterpart from Australia shrank -2.4% in Q4 2018 and is likely to improve to -1.6% during the first quarter of the current year. Further, investors would seek additional clues of why the latest rate cut was announced the Reserve Bank of Australia (RBA) in the minute statement.
Latest low near 74.30 holds the gate for the quote’s extended south-run to 73.00 and then the year 2016 low around 72.40 whereas an upside break of 74.48 can recall 74.80 and 75.00 on the chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.