Listen to the latest market mood for the AUDJPY pair.
Strong AUD, Weak JPY
The outlook for the AUD today is stronger after President Trump’s press conference on Friday saw the US leader take away Hong Kong’s special status. However, President Trump did not make any adjustments to the US-China trade deal, which led to an Asian stock relief rally today. This move has supported the high beta AUD. These risk on tones have favoured JPY sellers which weakens in this environment. Therefore we expect AUDJPY buyers at pullbacks today.
We expect this outlook to play out over the next 6-8 hours.
Any negative US-China trade disputes news could invalidate this outlook and weaken the AUD.