AUD/JPY fades corrective bounce near 96.50 on mixed Aussie inflation, employment data – by anilpanchal7 AUDJPY RiskAppetite YieldCurve Employment Inflation
Australia’s Employment Change rose to 33.5K, versus 35K expected and -40.9K prior during August. Further, thealso rose beyond 3.4% market consensus and the previous readings to 3.5% whereas the Participation Rate matched 66.6% forecasts versus 66.4% prior. Earlier in the day, Australia’s Consumer Inflation Expectations softened to 5.4% for September versus 6.7% expected and 5.9% prior.
Elsewhere, US President Joe Biden’s rejection of US fears and China’s stimulus are some of the key developments that should have favored the risk appetite. However, the Sino-American tussles and the energy crisis in Europe seemed to have challenged the optimism. It’s worth noting that the looming labor strike in the US appears an extra burden on the risk appetite.
On Wednesday, Japanese Finance Minister Shunich Suzuki stated that If Tokyo were to intervene, it will do so swiftly, without pause. Also, the country’s Economy Minister Yamagiwa said he doesn't think it is a matter he should answer, when asked whether BOJ conducted rate checks in the FX market.Governor Philip Lowe’s speech, up for publishing on Friday.The first daily closing below the 10-DMA in a month, around 96.
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