The RBA simply hiked rates of interest by 0.50% as anticipated, however Aussie bulls don’t appear to be impressed.
Can this imply a flip decrease for AUD/JPY?
Earlier than transferring on, ICYMI, yesterday’s watchlist checked out AUD/CAD’s bearish pullback forward of the RBA resolution. You’ll want to try if it’s nonetheless a sound play!
And now for the headlines that rocked the markets within the final buying and selling periods:
Contemporary Market Headlines & Financial Information:
U.S. President Biden anticipated to roll again some Chinese language tariffs this week
U.S. Treasury Yellen and Chinese language Vice Premier Liu He to keep up open communication
ANZ reviews 0.4% dip in New Zealand commodity costs
Australian retail gross sales rose by one other 0.9% in Might as anticipated
Chinese language Caixin companies PMI improved from 41.4 to 54.5 vs. 49.7 forecast
RBA hiked rates of interest by 0.50% to 1.35% as anticipated
RBA to keep up “data-dependent” as inflation prone to peak this yr then decline
Singapore’s central financial institution mulling extra restrictions on crypto buying and selling
French industrial manufacturing stayed unchanged in Might vs. projected 0.1% uptick
BOE Monetary Stability report and FPC assertion at 9:30 am GMT
BOE Governor Bailey’s speech at 10:00 am GMT
U.S. manufacturing facility orders at 2:00 pm GMT
New Zealand GDT dairy public sale developing
Use our new Foreign money Warmth Map to shortly see a visible overview of the foreign exchange market’s value motion! 🔥 🗺️
What to Watch: AUD/JPY
AUD/JPY 1-hour Foreign exchange Chart
U.S. merchants are again from their Fourth of July festivities at the moment!
Despite the fact that there’s not a lot in the best way of top-tier financial occasions simply but, buyers is perhaps keen to cost of their expectations forward of extra fireworks later within the week.
I’m referring after all to the FOMC resolution and NFP launch which may encourage one other spherical of risk-off flows. Can these spill over to a rally for the safe-haven yen?
A brief alternative appears to be shaping up fairly properly for AUD/JPY, because the pair is stalling round a damaged development line. That is near the 61.8% Fibonacci retracement stage on the breakdown, so sellers is perhaps leaping in proper right here.
In any case, the Aussie barely rallied even after the RBA hiked charges by 0.50% earlier at the moment. That’s in all probability as a result of policymakers shared numerous considerations about how greater borrowing prices and inflation are hurting family spending.
Stochastic is confirming a possible bearish transfer, because the oscillator already turned decrease from the overbought zone. On the similar time, the 100 SMA is under the 200 SMA to replicate the presence of bearish vibes.
If resistance retains holding and threat aversion returns, AUD/JPY might hunch again to the lows at 91.37 or decrease.
Higher maintain shut tabs on the headlines, fellas!
