The AUDJPY is trading steadily just above the 82.00 technical level with Yen traders keeping a steady hand despite a positive twist to Japan’s Retail Sales figures. What’ s next? The following 30 July AUDJPY Fundamental Outlook reveals.
30 July, GKFX – Japan’s Retail Sales figures came in above expectations across the board, with y/y Retail Sales for June coming in at 1.8% versus the expected 1.6% (previous 0.6%), and Large Retailers’ Sales also improved, clocking in at 1.4%, reversing the expected contraction to -0.4% (previous -0.2%).
Later this week sees a key meeting from the Bank of Japan (BoJ), and JPY traders will likely be awaiting announcements from the Japanese central bank on adjustments to their current monetary policy, which could see heavy Yen traders on the sidelines until the BoJ meeting on Tuesday.
30 July AUDJPY Fundamental Outlook
The Aussie bottomed out against the Yen last week near 81.80, but a limited bullish recovery stalled out in the mid-week from 82.85, and the pair is continuing to struggle near the 82.00 major level ahead of a major week for central bank action.
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