AUD/JPY RISES ABOVE 91.00 FOLLOWING KEY ECONOMIC DATA FROM AUSTRALIA AND JAPAN
AUD/JPY RISES ABOVE 91.00 FOLLOWING KEY ECONOMIC DATA FROM AUSTRALIA AND JAPAN
The AUD/JPY currency pair has risen above the 91.00 level, trading around 91.30 during the Asian session on Wednesday, April 30, 2025.
This upward movement is attributed to a combination of stronger Australian economic data and mixed economic indicators from China, Australia's major trading partner.
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Australia's recent inflation data has provided support for the Australian Dollar.
The Reserve Bank of Australia (RBA) has maintained a hawkish stance, keeping the cash rate at 4.35% for the seventh consecutive meeting and indicating that the policy would need to stay restrictive to ensure inflation slows.
China's Purchasing Managers' Index (PMI) data has been mixed, with the Caixin Manufacturing PMI falling to 49.3 in September, indicating contraction, while the NBS Manufacturing PMI improved to 49.8, surpassing market expectations.
These mixed signals have influenced market sentiment, impacting the AUD/JPY pair.
Improved global risk sentiment, driven by reduced fears of a U.S. recession and stronger-than-expected recovery in U.S. retail sales, has favored the Australian Dollar.
This risk-on environment has contributed to the AUD's strength against the Japanese Yen.
The Bank of Japan (BoJ) is expected to maintain its current accommodative monetary policy stance.
