Free Trial

AUSSIE-YEN: AUD/JPY has moved away from its..........>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: AUD/JPY has moved away from its session low of Y77.83, touched on
the back of soft Australian building approvals data, and last deals at Y78.02, 4
pips lower on the day.
- The aforementioned data release prompted a move towards the worst level in
more than 5 weeks. As a reminder, building approvals fell by 15.5% on a M/M
basis, with market expectations of a 12.0% decline vs. the prior 19.1% increase.
- The pair had already slid into negative territory before the print.
- On the technical front, a dip back below Y78.00 would open up the lower 1.0%
10-DMA envelope, situated at Y77.86. Conversely, bulls look to Y78.46, where the
rate peaked yesterday.

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.