AUD/JPY slips as Australia’s retail sales miss estimates. The consumer spending dropped by 0.3% in January Risk-off may strengthen bearish pressures around the JPY cross. AUD/JPY found offers and fell by 10 pips after the official data showed Australia’s consumer spending, as represented by retail sales, dropped in January. Retail sales fell by 0.3% in January, missing the forecasted print of 0%, having dropped by 0.5% in December, the Australian Bureau of Statistics reported at 00:30. The AUD/JPY cross declined from 70.35 to 70.21 immediately in reaction to below-forecast data and was last seen trading near 70.25. The US equity indices plunged Thursday and bond yields hit record lows as investors reassessed how much impact coronavirus would have on the economy and if rate cuts by the Federal Reserve would help mitigate the negative effect. The S&P 500 fell by 3.39% and could have a bearing on the risk sentiment in the Asian markets, in which case, the anti-risk yen will likely draw bids, pushing AUD/JPY lower. Currently, however, the futures on the S&P 500 are reporting a 0.42% gain. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/NZD Price Analysis: Breaks below key EMAs as Aussie data disappoints FX Street 3 years AUD/JPY slips as Australia's retail sales miss estimates. The consumer spending dropped by 0.3% in January Risk-off may strengthen bearish pressures around the JPY cross. AUD/JPY found offers and fell by 10 pips after the official data showed Australia's consumer spending, as represented by retail sales, dropped in January. Retail sales fell by 0.3% in January, missing the forecasted print of 0%, having dropped by 0.5% in December, the Australian Bureau of Statistics reported at 00:30. The AUD/JPY cross declined from 70.35 to 70.21 immediately in reaction to below-forecast data and was last seen trading near 70.25. The US equity indices… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.