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Market Mood AUDJPY 28.02.20

Market Mood AUDJPY 28.02.20

Market Mood AUDJPY 28.02.20

in Daily Forecasts

Listen to the market mood for the AUDJPY currency pair in the coming session:

Strong JPY
The JPY is strong today as the Yen re-establishes itself as a safe-haven currency. Margin calls have been handed out in Japanese markets with the recent heavy falls adding to the Yen’s strength.

Weak AUD
The AUD has been sold off due to its very close ties with the Chinese economy. Around 30% of Australia’s GDP comes from trade with China, so a slowdown in China impacts the AUD. Furthermore, a global slowdown brought on by the coronavirus also hurts the AUD and this double whammy is hurting the AUD today.

Expectations
Therefore, expect AUDJPY sellers on rallies today.

Risks to this outlook
Any positive coronavirus news which changes risk sentiment may invalidate this outlook.


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Disclaimer: Any opinions made may be personal to the author and may not reflect the opinions of HYCM. All expressions of opinion are subject to change without notice. This material is considered a marketing communication and does not contain, and should not be construed as containing, investment advice or an investment recommendation or, an offer of or solicitation for any transactions in financial instruments. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied by an employee of HYCM, a third party or otherwise. Past performance is not an indication of possible future performance. Without the approval of HYCM, reproduction or redistribution of this information isn’t permitted.

Legal Information: HYCM is the trading name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Limited and Henyep Capital Markets (DIFC) Limited for which the Henyep Capital Markets group is holding company and its assets are a controlling equity interest in them.

* Cryptocurrencies are not available for trading under HYCM (Europe) Limited and Henyep Capital Markets (UK) Limited (retail clients only).

*Any opinions made in this material are personal to the author and do not reflect the opinions of HYCM. This material is considered a marketing communication and should not be construed as containing investment advice or an investment recommendation, or an offer of or solicitation for any transactions in financial instruments. Past performance is not a guarantee of or prediction of future performance. HYCM does not take into account your personal investment objectives or financial situation. HYCM makes no representation and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast, or other information supplied by an employee of HYCM, a third party or otherwise.

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