DJIA38790.43
LIVE75.66(0.20%)
NDX17985.01
LIVE176.76(0.99%)

AUD/JPY holds above Tuesday's low despite weak Aussie data


Wednesday, 26 February 2020 08:33 WIB

AUD/JPY


The downside momentum in AUD/JPY looks to have stalled in Asia.

The pair is currently trading near 72.68, representing marginal losses on the day. While the pair is flashing red, it is still holding above the low of 72.52 registered on Tuesday.

Big miss on Aussie data

The data released at 00:30 GMT showed Australia's Construction Work Done (Q4) contracted 3% compared to expectations for a 1% drop and down from the previous quarter's 0.4% growth.

So far, however, the below-forecast construction data, which feeds into the gross domestic product, has failed to move the needle in the Aussie pairs.

The lackluster reaction could be due to the fact that the data is backward-looking. That said, the futures on the S&P 500 have shed moderate gains seen a few minutes ago.

So, the bid tone around the anti-risk Japanese currency may strengthen. Note that the US stocks suffered sharp losses for the second day on Tuesday. The Dow Jones Industrial Average fell by 879 points, having shed over 1,000 points on Monday.

Source: FXstreet


RELATED NEWS

  • The dollar was slightly offered, heading for a second day of losses amid very thin flows as traders took to the sidelines ahead of a slew of policy-rate decisions due this week. The Bloomberg Dollar ...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.