AUD/JPY slides below 91.00 on downbeat Aussie Retail Sales, mixed Japan inflation and risk aversion – by anilpanchal7 AUDJPY RiskAppetite Inflation RetailSales BOJ
data, challenges to the risk profile and mixed Japan inflation numbers, as well as promising signals from Tokyo, also weigh on the risk barometer pair.Earlier in the day, Tokyo Consumer Price Index eased to 3.2% YoY from 3.5% previous readings and 3.9% market forecasts. On the same line is the Tokyo CPI ex Fresh Food while the Tokyo CPI ex Food, Energy edged higher but stays below the market forecasts for the said month.to dominate.
It should be noted that the recently hawkish concerns about the Bank of Japan’s next move, backed by Governor Kazuo Ueda’s latest comments and economic optimism in the nation, also exert downside pressure on the AUD/JPY price. On Thursday, Bank of Japan Governor Kazuo Ueda said that they could tweak the Yield Curve Control strategy if the balance between the benefit and the cost of the policy were to shift, as reported by Reuters. Further, Japanese Cabinet Office released the monthly assessment report on Thursday and raised the overall economic view for the first time since July 2022 in May. The government report also noted that the economy is 'recovering moderately'.
Amid these plays, S&P500 Futures print mild losses whereas the US 10-year and two-year Treasury bond yields seesaw near the early March highs of around 3.82% and 4.54% in that order.A daily closing below a three-week-old ascending support line, now resistance around 91.15, directs AUD/JPY price toward the 100-DMA of 90.40.
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