Listen to the latest market mood for the AUDJPY pair.
Strong AUD, Weak JPY
Asian equity markets have traded higher this morning with the ASX 200 outperforming at +2.5% by a surge in energy and financials on the eve of the Australian budget announcement. Other regional bourses reopened from recent holiday closures and participants also digested the positive update regarding President’s Trump health which has continued to improve and the President could leave the hospital as early as today.
The high beta currencies like the AUD, CAD, and the NZD have benefitted on the positive risk tone, and the JPY and USD have been weaker.
Therefore, expect AUDJPY buyers at pullbacks as long as this mood remains.
- If the risk tone turns negative due to President Trump’s health taking a turn for the worse expect this will invalidate this outlook.
- If the risk tone turns negative on another factor today like rising COVID-19 cases that will also invalidate this outlook.