Despite witnessing a drop in seasonally adjusted Employment Change, the AUD/JPY pair takes the bids to 75.64 during early Thursday.
The Australian Bureau of Statistics released June month employment data wherein the Unemployment Rate and Participation Rate remained unchanged at 5.2% and 66% respectively while the Employment Change slipped beneath 10.0K forecast to 0.5K. However, the increase in Fulltime Employment to 21.1K from 2.4K prior gained Aussie bulls’ attention.
Risk-off sentiment remains present in the market off-late amid political news headlines. Among them, the Wall Street Journal news that the US House of Representatives blocked the country’s arms sales to Saudi Arabia and the Reuters’ report revealing Turkey’s resentment due to the US removal from F-35 program grabbed major attention.
Adding to the pessimism was dimming odds for the US-China trade deal. As a result, the key risk barometer, the US 10-year treasury yield carries previous weakness forward with nearly 2 basis points of declines to 2.042% by the press time.
Having witnessed initial reaction to the monthly employment data from Australian, economic calendar remains mostly empty during the Asian session, which in turn highlights the importance of trade/political news for fresh impulse.
Source : FX Street