- AUD/JPY maintains its previous downside momentum for the fourth straight day.
- Coronavirus Jitters, RBA dovish view, dismal Chinese CPI data weighed on Aussie.
- The Japnese Yen attracts bids on its safe-haven appeal following upbeat GDP figures.
AUD/JPY edges lower on Thursday in the early European session. The pair opened higher but failed to preserve the momentum and touched the intraday low.
At the time of writing, AUD/JPY is trading at 80.95, down 0.28% for the day.
The Aussie depreciated following a combination of factors. The Reserve Bank of Australia (RBA) holds its plans to taper bond buying but extended the length of the programme to at least mid-February as coronavirus induced lockdown hit the economy.
Furthermore, New South Wales reported 1,405 new virus cases as compared to 1,480 a day earlier.
It is worth noting that S&P 500 Futures were trading at 4,514.07, down 0.13% for the day.
On the other hand, the Japanese Yen locks in some gains on general risk-aversion among rising COVID-19 infections and its threat to global economic recovery.
Japan reported a higher Gross Domestic Product (GDP) at 0.5% in Q2 as compared to a revised 1.1% fall in Q1.
Investors turn their attention to European Central Bank (ECB) rate decision to gauge the market sentiment.
AUD/JPY additional levels
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.