BoJ<\/a> policymaker\u00a0Junko\u00a0Nakagawa initially defended the easy monetary policy by stating that it is appropriate to maintain the easy monetary policy for the time being while adding that they\u2019re still not at the stage where we can say Japan has stably, sustainably achieved BoJ price target.<\/p>\nIt\u2019s worth noting that the fears about China’s slowdown and optimism surrounding the US and Japan, not to forget concerns suggesting economic fears for Australia, together weigh on the sentiment and the AUD\/JPY prices due to the quote\u2019s risk-barometer status.<\/p>\n
On Wednesday, Australia\u2019s second quarter (Q2) Gross Domestic Product (GDP) rose to 0.4% QoQ versus 0.3% marked expectation and 0.2% prior readings but the yearly figures eased to 2.1% YoY from 2.3% previous readouts, versus the analysts\u2019 estimations of 1.7%.<\/p>\n
China\u2019s early-week disappointment via China Caixin Services PMI joined the market\u2019s lack of confidence in the Dragon Nation\u2019s stimulus to weigh on the concerns about Beijing. On the same line could be the US-China tension surrounding the trade conditions and Taiwan.<\/p>\n
On the other hand, Japan\u2019s top currency diplomat Masato Kanda and Chief Cabinet Secretary Hirokazu Matsuno both mentioned watching the moves with a high sense of urgency on Wednesday. The policymakers also added that they would respond to the moves appropriately if necessary without ruling out any option.<\/p>\n
Further, Bank of Japan (BoJ) board member Hajime\u00a0Takata\u00a0defended the central bank\u2019s easy policy by citing very high uncertainty on the outlook. \u201cBoJ will closely watch market developments to achieve bond market stability with eye on benefits, de-merits of YCC,\u201d added the policymaker. BoJ\u2019s Takata also cited stronger-than-expected US economic growth to justify the US Dollar strength while adding that there\u2019s a certain distance to the ditching of negative rate policy.<\/p>\n
Against this backdrop, the US 10-year Treasury bond yields struggle to extend the previous day\u2019s run-up at a two-week high while the S&P 500 Futures remain pressured at the latest.<\/p>\n
Moving on, China trade numbers for August and Philip Lowe\u2019s last speech as the Reserve Bank of Australia (RBA) Governor will be important to watch for clear directions.<\/p>\n
Technical analysis<\/h2>\n
AUD\/JPY remains pressured between a one-week-old descending resistance line and an ascending support line stretched from late July, respectively near 94.55 and 93.75.<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Share: AUD\/JPY reverses from intraday high to print three-day losing streak. Australia Trade Surplus shrinks in July, BoJ\u2019s Nakagawa defends easy monetary policy but sounds slightly hawkish. Sour sentiment, sluggish yields also weigh on risk-barometer pair. AUD\/JPY justifies downbeat Australia data, as well as slightly hawkish bias about the Bank of Japan (BoJ), amid early […]<\/p>\n","protected":false},"author":2,"featured_media":8964,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[1169,201,367,248,251,246,257,1437,255,250,252,247,253,378,411,249,256,254],"class_list":["post-151234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audjpy","tag-blockchain","tag-boj","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-foreigntrade","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-rba","tag-riskaversion","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=151234"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151234\/revisions"}],"predecessor-version":[{"id":151236,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151234\/revisions\/151236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8964"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}