JPY Daily News

Australian Employment Sector Data on Tap

The Australian dollar (AUD) was seen trading strongly bearish versus most other currencies yesterday after China's rate hike began to shift many traders back into risk averse assets. As was anticipated yesterday, news of a rate hike in China pulled strongly down on the value of the Aussie as investors moved away from higher yields in exchange for stores of value.

Yesterday's news weakened the Aussie, fueled by poor fundamental data on Monday and flat news on Tuesday. With this morning's release of Australia's employment sector data, many are expecting the southern nation to begin addressing its growth outlook. Weakening commodity prices are beginning to pull on the nation's economic growth and the AUD's meteoric rise has gouged Australia's exports. The downturn may look dismal from afar, but the runaway inflation caused by the Aussie's rise was expected to cut into the country's growth projection eventually. The bearish movement may prove positive for the country's growth as it fights through an unusually extreme winter.

Current Time: 05/27 00:23 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
07/07
	00:50	JPY	Bank Lending	y/y	-0.7%	*	-0.6%
	00:50	JPY	Current Account		0.55T	0.19T	0.39T