9 Mar 2015
AUD/JPY climbs back above 93.00
FXStreet (Córdoba) - AUD/JPY traded momentarily below 93.00 during the Asian session but it was rejected and recently climbed to 93.47, reaching a fresh daily high.
The modest recovery of the AUD/USD from weekly lows, back above 0.7700 and the consolidation around 121.00 of USD/JPY, gave support to AUD/JPY. The yen and the US dollar are the weakest among major on Monday.
Data from Japan and Australia
During the Asian session, Japan release the final GDP reading for the fourth quarter; the economy rose at a 0.4% rate ,below the preliminary reading. On Australia the key report will be release on Thursday, with labor market numbers. “After the exceptionally weak January report (-12.2k, 6.4%) all eyes will focus on the u-rate and whether it climbs further for the wrong reasons and triggers RBA easing as soon as April. Our +10k employment bounce is not enough to reverse the climb in the u-rate, remaining at 6.4%”, said analysts from TD Securities.
The modest recovery of the AUD/USD from weekly lows, back above 0.7700 and the consolidation around 121.00 of USD/JPY, gave support to AUD/JPY. The yen and the US dollar are the weakest among major on Monday.
Data from Japan and Australia
During the Asian session, Japan release the final GDP reading for the fourth quarter; the economy rose at a 0.4% rate ,below the preliminary reading. On Australia the key report will be release on Thursday, with labor market numbers. “After the exceptionally weak January report (-12.2k, 6.4%) all eyes will focus on the u-rate and whether it climbs further for the wrong reasons and triggers RBA easing as soon as April. Our +10k employment bounce is not enough to reverse the climb in the u-rate, remaining at 6.4%”, said analysts from TD Securities.