Free Trial

AUSSIE-YEN: The risk proxy AUD/JPY has dived on......>

ASIAN MARKETS, AUSSIE-YEN
AUSSIE-YEN: The risk proxy AUD/JPY has dived on the back of broader risk-off
flows noted in the wake of softer than exp. Australian unemployment rate print,
which added to existing worries inspired by global trade tensions.
- BBG WIRP tool shows that markets price in a 64.1% probability of a rate cut at
the next RBA MonPol meeting vs. yesterday's 47.3%. Implied probability of a cut
by the Bank's Aug meeting increased to 81.9% from 71.4%.
- AUD/JPY last deals at Y74.84, 34 pips lower on the day. Following a breach of
the Jun 3 multi-month low of Y74.97, bears target the 61.8% fibo retracement of
the YtD range, situated at Y74.49. Meanwhile, a break above the aforementioned
Jun 3 low would return focus to the Y75.00 handle.

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.