AUD/JPY - Australian Dollar to Yen

This week there will be a lot of data out from China including inflation and trade. According to Reuters, the data of this week should reflect a steady economy – what do you think we can expect? We’ve seen the IMF upwardly revise its economic growth projections off the back of a solid 1st quarter … Continue reading China’s Inflation and Trade Data, RBNZ Next Rate Hike and UK Trade Deficit

The Australian dollar continued to rise today following yesterday’s surge. The poor macroeconomic data released over the current session did not bother the currency much. Yesterday’s rally was caused by the policy minutes of the Reserve Bank of Australia, which market participants considered hawkish. The notes showed that Australian policy makers targeted 3.5% as the neutral level for the key interest rate, and that is far above the current 1.5%. As for today’s data, the leading index … Continue reading Australian Dollar Rallies Undisturbed by Poor Data

A private report released today showed that China’s manufacturing sector switched to growth. The Australian dollar attempted to rally with the help from the good news from Australia’s biggest trading partner. Yet the currency lost its gains versus its most-traded rivals (with the exception of the soft Japanese yen) as the report was not as good as it looked at first glance. The Caixin China General Manufacturing PMI climbed from 49.6 … Continue reading Australian Dollar Unable to Keep Gains Caused by China’s PMI

The minutes from the June Reserve Bank of Australia (RBA) meeting revealed that the interest rates will be kept unchanged at 1.5%. The board suggested that the developments in the labor and housing markets should be watched carefully. Australia House Price Index (QoQ) met the forecasted value of 2.2% in the first quarter and Australia … Continue reading Morning Market Update – AUD eases up