- The Aussie is faltering at the high end of a recent correction against the Yen, further downside is beginning to open up.
- China lending and foreign investment data will be hitting alongside a speech from the RBA’s Lowe.
The AUD/JPY is trading back near Tuesday’s lows ahead of a speech from the Reserve Bank of Australia’s (RBA) Governor Phillip Lowe, as well as China data due at the top of the hour.
RBA Governor Phillip Lowe will be speaking shortly about economic activity within the Australian economy, and Chinese Foreign Direct Investment figures are expected as well, which last came in barely changed at 0.1% with New Loans for May expected at 1.2 trillion, compared to the previous of 1.18 trillion.
Thursday will be the day to see this week for the Aussie, with employment figures due early at 01:30 GMT. Economic indicators for Australia have managed to stage a turnaround of the recent slump, but growth continues to struggle and lag behind global trends.
AUD/JPY levels to watch
With the pair trading into yesterday’s low(83.50), the AUD/JPY looks set to fall back into recent lows established in May(81.00) unless bulls can stage a meaningful recovery and push the pair over June’s highs(84.50) and send the Aussie back higher against the safe-haven Yen.
Share
