EUR/USD 1.02904
-0.169%
Gold 2694.67
0.643%
Oil 78.830
2.458%
USD/JPY 156.505
-0.938%
GBP/USD 1.22270
0.093%
GBP/JPY 191.361
-0.808%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Hamas chief negotiator: Israel has failed to achieve its goals in Gaza.Hang Seng Index futures closed up 0.59% at 19,426 points in the night session, 140 points higher.On January 16, the Federal Reserve Beige Book stated that during the reporting period, overall prices rose to a certain extent, ranging from flat to moderately rising. Most respondents in the reserve area said that sales prices had increased moderately, but there were also cases where prices remained flat or fell, especially in retail and manufacturing. Input costs also rose, and respondents specifically mentioned rising insurance prices, especially health insurance. Respondents expect prices to continue to rise in 2025, and some pointed out that tariff increases may drive price increases.Brent crude oil rose more than 2.00% during the day and is now trading at $81.32 per barrel.On January 16, the Federal Reserve Beige Book pointed out that during the reporting period, overall, employment conditions rose slightly, with 6 Federal Reserve districts reporting a slight increase in employment and 6 reserve districts reporting no change. Respondents in several service industries, including healthcare, continued to report an increase in employment. Construction employment increased slightly, while manufacturing employment remained flat. Respondents in multiple industries pointed out that it was difficult to find skilled workers, and reports of layoffs remained rare. However, respondents in some reserve districts showed greater uncertainty about future staffing needs. Wage growth in most reserve districts accelerated to a moderate level, although some reports said wage pressures had eased.

As Australian Retail Sales Continue To Underperform Expectations, AUD/JPY Corrects To Near 87.20

Alina Haynes

Mar 28, 2023 15:36

AUD:JPY.png 

 

The AUD/JPY pair has declined to near 87.20 as a consequence of weaker Retail Sales data from the Australian Bureau of Statistics. The increase in economic data was 0.2%, which was less than the consensus estimate of 0.4% and the previous release of 1.9%. A weaker-than-anticipated retail demand suggests that households are unable to compensate for the impact of inflated products with their present purchasing power.

 

The headline may suggest weakening retail demand, but the Reserve Bank of Australia (RBA), which is working to restrict elevated inflation, is ecstatic.

 

This week, the Australian Dollar is expected to remain in focus prior to the release of the monthly Consumer Price Index (CPI) (Feb) data on Wednesday. According to projections, the inflation rate will decline from 7.4% to 7.1%.

 

There is evidence that Australia's inflation rate has begun to decline, as stated by the RBA's policymakers. As the present monetary policy is already sufficiently restrictive to control persistent inflation, the RBA could conclude its policy-tightening process at the April monetary meeting.

 

In addition, the National Bureau of Statistics' (NBS) Manufacturing PMI for China will be the most influential factor for the Australian Dollar. China's economy is now focused on the road to economic recovery, following the elimination of pandemic controls. Consequently, a respectable performance is anticipated within the manufacturing industry. Australia is China's most important trading partner, and an increase in the Chinese PMI will also boost the Australian Dollar.

 

Haruhiko Kuroda, the former governor of the Bank of Japan (BoJ), will continue to be the center of attention in Tokyo. BoJ Kuroda may reaffirm the continuation of ultra-loose monetary policy to stimulate earnings and the economy's overall demand.


Suggestion