- The AUD is trading steadily ahead of the Australian Trade Balance reading.
- Market demand for the safe-haven JPY remains on the high side as trade tensions continue to rise.
The AUD/JPY is trading near 82.70 heading into Thursday’s Asia market session after taking a step back against the safe-haven Yen.
The Aussie has slipped against the Japanese Yen through the mid-week, dropping from the week’s high of 83.25 as traders prop up the Yen on renewed trade war fears, and the AUD is now middling ahead of Australian Trade Balance figures.
The Australian Trade Balance will be dropping early Thursday at 01:30 GMT and is expected to tick upwards from $827 million to $900 million, and traders will be keeping a close eye on the underlying Import/Export figures, as a potential slowdown in Chinese economic activity is expected to see a cinch in Australian trade figures.
On the JPY side of things, the Bank of Japan (BoJ) will be releasing the minutes of their latest monetary policy meeting late in the day at 23:50 GMT, and market participants will get a chance to see what the bank’s internal dialogue looks like compared to the latest showing from the Japanese central bank, which loosened the yield target on Japan’s 10-year government bonds and announced an adjustment to ETF purchases by the BoJ.
AUD/JPY Levels to watch
The Aussie continues to trade in a rough range against the JPY on Daily candles, shifting from 81.00 to 84.00 for the majority of 2018, but recent swing points see the major pair constrained by the last swing low at 81.80 and this week’s current high of 83.50.
Share
