AUDJPY(01/31/2023)
HI Dear
Open Position : 91.600
S/L :92.600
Take Profit : 89.300
The pressure on the Australian dollar is exerted by data on retail sales in the country: in December, their volume decreased by 3.9% and significantly exceeded the 0.3% decrease expected by experts, which was the most significant drop in the indicator in more than two years. The negative dynamics reached a more than two-year high, indicating a fall in household spending due to high inflation (7.8%) and the “hawkish” monetary policy of the Reserve Bank of Australia (RBA), which complicates the regulator's task to strike a balance between further struggle with rising prices and maintaining momentum for economic growth. However, the recovery of the Chinese economy may have a positive impact on the situation: experts believe that the lifting of quarantine measures will lead to an increase in demand for commodities, including Australian coal, as well as an increase in the flow of tourists and students to Australia, which will support the service sector.
Best Regards.
Open Position : 91.600
S/L :92.600
Take Profit : 89.300
The pressure on the Australian dollar is exerted by data on retail sales in the country: in December, their volume decreased by 3.9% and significantly exceeded the 0.3% decrease expected by experts, which was the most significant drop in the indicator in more than two years. The negative dynamics reached a more than two-year high, indicating a fall in household spending due to high inflation (7.8%) and the “hawkish” monetary policy of the Reserve Bank of Australia (RBA), which complicates the regulator's task to strike a balance between further struggle with rising prices and maintaining momentum for economic growth. However, the recovery of the Chinese economy may have a positive impact on the situation: experts believe that the lifting of quarantine measures will lead to an increase in demand for commodities, including Australian coal, as well as an increase in the flow of tourists and students to Australia, which will support the service sector.
Best Regards.
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