AUD/JPY bulls cheer China-inspired optimism, mixed Japan data around 89.50 – by anilpanchal7 AUDJPY RiskAppetite China BOJ Macroeconomics
That said, the quote’s run-up could be linked to the risk-on mood in the market, mainly propelled by China, as well as receding hopes of the hawkish moves by the Bank of Japan .
China scrapped the COVID quarantine rule for inbound travelers starting from January 08. The news joined geopolitical fears emanating from Russia and North Korea to portray cautious optimism in the market. As a result, S&P 500 Futures rise 0.60% intraday to 3,892 whereas the US 10-year Treasury yields remain sluggish at around 3.74% by the press time.
Talking about the data, Japan’s Unemployment Rate eased to 3.5% in November versus 3.6% expected prior while the Jobs / Applicants Ratio reprinted 1.35 for the said month compared to 1.33 market forecasts. Further, Retail Trade growth eased to 2.6% YoY versus 2.8% consensus and 4.4% upwardly revised prior.ahead of Saturday’s China official PMIs will join the year-end inaction in the market to restrict AUD/JPY moves.
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