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23 Apr 2015
AUD/JPY now moving with a bearish bias on China
FXStreet (Guatemala) - AUD/JPY is currently trading at 92.82 with a high of 93.05 and a low of 92.68.
AUD/JPY has popped up on the short term sticks with a bid form 92.77 with a test of 92.90 but falling short at 92.88 as markets digested the confidence data from Australia. The Australian business confidence fell from 2 in Q4 2014 to 0 in Q1 2015, while business conditions were also lower at 2 in Q1 2015 from 5 in Q4 2014. Then came the Chinese HSBC Manufacturing data that also weighs on the Aussie at 49.2 vs 49.6 expected.
There has been a sell off in the NZD and the FX space is choppy in Asia, mirroring that of overnight activity that has seen the AUD/JPY cross offering good two way business for both buyers and sellers, in a directionless consolidation of yesterdays spike, albeit trading with a bearish bias overall since breaking down through 92.80.
AUD/JPY has popped up on the short term sticks with a bid form 92.77 with a test of 92.90 but falling short at 92.88 as markets digested the confidence data from Australia. The Australian business confidence fell from 2 in Q4 2014 to 0 in Q1 2015, while business conditions were also lower at 2 in Q1 2015 from 5 in Q4 2014. Then came the Chinese HSBC Manufacturing data that also weighs on the Aussie at 49.2 vs 49.6 expected.
There has been a sell off in the NZD and the FX space is choppy in Asia, mirroring that of overnight activity that has seen the AUD/JPY cross offering good two way business for both buyers and sellers, in a directionless consolidation of yesterdays spike, albeit trading with a bearish bias overall since breaking down through 92.80.