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February 9th - A survey closely watched by the Bank of Englands Monetary Policy Committee shows that while employers continued to reduce hiring for long-term positions in January, the pace of reduction slowed to its lowest level in 18 months. The survey, conducted by the Recruiting and Employment Confederation (REC), also showed that businesses increased the number of temporary workers deployed for the first time since October last year. Neil Carberry, CEO of REC, said: "As we head into 2026, there are increasing signs that uncertainty about hiring plans is translating into action. This doesnt mean a full-blown hiring rebound, but the wait-and-see period seems to be coming to an end." This REC report further supports the view that the UK economy is poised for a turnaround in 2026. A recent S&P survey showed that business expansion in January hit a 17-month high; a report from the Institute of Directors also indicated that executives are more optimistic about the outlook for sales, hiring, and investment.Jun Mimura, Japans top foreign exchange official: We are closely monitoring foreign exchange trends with a high sense of urgency.The yield on Japans 30-year government bonds rose 6.5 basis points to 3.615%.Japans December trade balance will be released in ten minutes.February 9th - Data released on Monday showed that Japans real wages contracted for the 12th consecutive month in December, as nominal wage growth lagged slightly behind slowing consumer inflation. Following the Bank of Japans 25 basis point rate hike to 0.75% in December, wage trends have become one of the most important indicators for deciding the timing of the next rate hike. As a key indicator of consumer purchasing power, inflation-adjusted real wages fell 0.1% year-on-year in December. This continues the contraction that began in January 2025, although the decline has narrowed to its lowest level since the start of this contraction cycle. Full-year data released on Monday showed that Japans real wages will fall by 1.3% in 2025. This marks the fourth consecutive year of contraction in real annual wages since consumer inflation began exceeding the Bank of Japans 2% target in 2022.

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.


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