Focusing on AUDJPY
AUDJPY pair is in focus this week with a possible retracement around $95 before continuing its bullish rally at around $97,50. The main narratives behind this is the differences in the 10 year bond yields of the two countries that show capital flowing more aggressively in favor of the Aussie Dollar, also the pausing of the hikes by the RBA earlier in the week did not create any major losses for the Australian dollar showing the strength of the currency even without further hikes. Australian balance of trade, consumer confidence as well as the Reserve bank's governor's speech is what the traders need to pay attention if they were to proceed with this trade.
Read EXNESS Broker Review July 6, 2023 at 02:06PM Exness
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