AUD/JPY Crosses Analysis: Limited Downside Risks with Strong RBA Outlook
Monday, 21 October 2024, 01:25
AUD/JPY Crosses and RBA's Influence
The AUD/JPY crosses have recently inched lower, hovering around the key psychological level of 100.00. However, downside risk appears limited due to the hawkish stance of the Reserve Bank of Australia (RBA) that has been generating bullish sentiment around the Australian Dollar (AUD).
Macroeconomic Factors Impacting AUD/JPY
- Strong employment data reported from Australia boosts AUD outlook.
- Positive GDP growth anticipations provide support for further RBA interest rate hikes.
- Market sentiment shifts as inflationary concerns affect monetary policy considerations.
As the macro environment continues to evolve, investors are keenly observing how these elements influence trading actions in the AUD/JPY pair.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.