AUD/JPY traces firmer yields around 87.50, Aussie Retail Sales, BoJ’s Kuroda eyed – by anilpanchal7 AUDJPY YieldCurve RBA BOJ RiskAversion
esday. That said, the cross-currency pair cheered firmer sentiment to post the first daily gains in four the previous day.
With the European and the US authorities’ announcements of the extension of emergency lending to banks, the market players took a sigh of relief from the banking sector crisis. On the same line were comments from the central bank officials pushing back the banking crisis concerns and the Silicon Valley Bank deal. It’s worth noting that the month-end consolidation could also be held responsible for the AUD/JPY pair’s run-up, especially when it eyes the second monthly fall with above 4.0% loss.
While portraying the mood, Wall Street closed mixed, losing some of the intraday gains in the late hours, whereas yields rebound after a four-week downtrend. It should be noted that the AUD/JPY pair’s run-up ignored upbeat prints of Japan’s Coincident Index and Leading Economic Index for January, as well as growing chatters of the Bank of Japan exit from the ultra-easy monetary policy.
Looking ahead, Australia’s Retail Sales for February, expected 0.4% versus 1.9% prior, could offer immediate direction to the AUD/JPY pair ahead of a speech from BoJ’s exiting Governor Haruhiko Kuroda. Following that, comments from Assistant Governor at the Among the key catalysts, talks about the banking crisis and central bank comments will be important for near-term directions.AUD/JPY recovery remains elusive unless the quote stays below a three-week-old resistance line, around the 88.
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