AUD/JPY aims to re-test 92.00 as focus shifts to China's Inflation – by Sagar_Dua24 AUDJPY RBA BOJ PBOC Inflation
etus. The risk barometer has shifted sideways around 91.50, following footprints of AUD/USD ahead of the release of the United States inflation data.
According to the estimates, annual CPI is set to improve to 1.8% from the former release of 1.6%. While the monthly figure may contract by 0.1% against the prior release of -0.2%. Also, the could contract by 0.1%. The Chinese economy is operating at lower inflation levels after remaining locked for a lengthy period due to the Covid-19 epidemic. This might force the People’s Bank of China to announce some policy-easing measures to spurt the level of economic activities.
On Wednesday, the cross turned sideways after a bullish action supported by the release of the higher-than-projected Australian inflation and upbeat Retail Sales data. The monthly price index in the Australian economy landed at 7.4% vs. the consensus of 7.3% and the former release of 6.9%. Apart from that, monthly Retail Sales jumped to 1.4% against the projections of 0.6%.
Stronger-than-anticipated inflation and retail demand by households are going to compel the Reserve Bank of Australia to continue hiking interest rates further to tame soaring inflation. Currently, the Official Cash Rate of theOn the Tokyo front, Michio Saito, Director-General of the Financial Bureau at Japan’s Ministry of Finance , said in a statement early Wednesday, “interest rates remain low but the current situation won't last indefinitely.
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