Free Trial

AUSSIE-YEN: AUD/JPY eked out a handful of pips.......>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY eked out a handful of pips worth of gains as the recent
positive signals re: Sino-U.S. trade situation remained in focus. The rate last
deals 7 pips better off at Y74.29, off an earlier high at Y74.40. It showed no
reaction as the final readings of Japanese industrial output confirmed flash
estimates.
- On the technical front, bulls look for a breach of Y74.49, the 61.8% fibo
retracement of the Jan-Apr rally, which capped gains yesterday. Above there
would open up the 100-DMA, which comes in at Y74.66. Meanwhile, a retreat and
close below the Y74.00 mark would please bears, granting them some reprieve
after AUD/JPY's 8-day winning streak.
- Australian docket for next week includes RBA September meeting minutes
(Tuesday) and domestic labour market report (Thursday).
- Japanese focus next week turns to the BoJ MonPol decision, coming up on
Thursday. Trade balance hits on Tuesday, while nationwide CPI comes out on
Friday.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.