AUD/JPY breaks its three-day winning streak, trading around 101.20 during the European hours on Thursday.
The AUD/JPY cross could recover as traders anticipate that the RBA may avoid implementing rate cuts in 2024. Japan ’s polls indicate the LDP-led coalition may lose its majority in the general election this weekend. Australia 's Judo Bank Services PMI inched up to 50.6 in October, marking its ninth consecutive month of expansion. The Japan ese yen gained some traction as buyers might have responded to verbal intervention from Japan ese officials earlier in the day.
Headline inflation is usually expressed as a percentage change on a month-on-month and year-on-year basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
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