17 Feb 2015
AUD/JPY: RBA and BoJ in focus
FXStreet (Guatemala) - AUD/JPY is currently trading at 92.03 with a high of 92.16 and a low of 91.96.
AUD/JPY is struggling with the 92 handle at the start of this week. The sell off yesterday on Japan's GDP taking the country out of contraction for the first time in two quarters and leaves the cross oscillating in the higher end of 91 and resisted at 93.40. Meanwhile we are back to Central Banks. Today we start with the RBA's minutes.
However, we only recently heard from Stevens last week in his Statement of Monetary Policy that was followed by over two hours of QnA. Will there be anything additional in the minutes that will give the markets any clearer guidance in respect of further rate cuts? Valeria Bednarik, chief analyst at FXStreet explained that should the Central Bank leave the doors open for another rate cut, the Aussie may extend its fall to fresh year lows this week.
Then over to Japan, this week brings us their meeting and statement with the majority consensus that the BoJ is likely to keep its policy on hold. The main focus will remain with the BoJ Governor Kuroda's press conference and we will be watching his view on the inflation outlook, JGB market volatility, and the currency rate. The latter being something of late that markets are buying Yen on the back of whispers of concerns from within the BoJ for the Yen's weakness.
AUD/JPY is struggling with the 92 handle at the start of this week. The sell off yesterday on Japan's GDP taking the country out of contraction for the first time in two quarters and leaves the cross oscillating in the higher end of 91 and resisted at 93.40. Meanwhile we are back to Central Banks. Today we start with the RBA's minutes.
However, we only recently heard from Stevens last week in his Statement of Monetary Policy that was followed by over two hours of QnA. Will there be anything additional in the minutes that will give the markets any clearer guidance in respect of further rate cuts? Valeria Bednarik, chief analyst at FXStreet explained that should the Central Bank leave the doors open for another rate cut, the Aussie may extend its fall to fresh year lows this week.
Then over to Japan, this week brings us their meeting and statement with the majority consensus that the BoJ is likely to keep its policy on hold. The main focus will remain with the BoJ Governor Kuroda's press conference and we will be watching his view on the inflation outlook, JGB market volatility, and the currency rate. The latter being something of late that markets are buying Yen on the back of whispers of concerns from within the BoJ for the Yen's weakness.