The AUD/JPY cross faces some selling pressure around the 99.00 mark during the early European session on Friday.
AUD/JPY attracts some sellers to 98.90 in Friday’s early European session. Japan’s CPI inflation data rose to 2.8% YoY in February from 2.2% in January, which remains above the BoJ’s target. Australia added 116.5K new employees in February, up from 15.3K in January. The uptick in Japanese Consumer Price Index inflation data provides some support to the Japanese Yen and weighs on the AUD/JPY. Investors will take more cues from the Australian monthly CPI next week.
On the Aussie front, the Australian Bureau of Statistics reported on Thursday that Australia added 116.5K new employees in February from 15.3K in the previous month. Meanwhile, the Unemployment Rate fell to 3.7% in February from 4.1% in January, stronger than the market expectation of 4.0%. Next week, the market players will monitor the Australian monthly CPI and Retail Sales for February. On the Japanese docket, Tokyo CPI for March will be a closely watched event.
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