Listen to the latest market mood for the AUDJPY pair.
Strong AUD, Weak JPY
The outlook for the AUD today is stronger after risk on relief remains after President Trump did not make any adjustments to the US-China trade deal. Wall St traded positively overnight and the Asian session traded higher overnight too. This risk-on move has supported the high beta AUD. Furthermore, the Reserve Bank of Australia kept rates unchanged and maintained the 3 yr bond yield target at 0.25%. It was an uneventful rate decision meeting. These risk on tones once again 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 10-12 hours.
- Any negative US-China trade disputes news could invalidate this outlook and weaken the AUD.
- Any further US-China trade action. If President Trump takes actions against China in their trade dispute then AUD can fall.
- Any serious worsening of the US riots could start to hinder the risk tone and result in AUDJPY weakness.