FXC – Forex Broker



AUDJPY pair managed to move slightly higher

It will takes about:

September 17, 2021

Latest updates:

– Stocks traded mixed overnight as investors were weighing risk related to Chinese housing companies against improved outlook for US taper
– Nikkei and Kospi gained during the Asian session while S&P/ASX 200 and indices from China pulled back
– European index futures trade higher compared to yesterday’s cash closing prices
– Democrat leaders – Biden, Pelosi and Schumer – agree that Trump-era tax cuts must be removed
– Biden administration is exploring options for rejoining the trans-pacific trade pact. Pact currently includes Australia, Brunei, Canada, CHile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam
– Around 28% of the US crude production in the Gulf of Mexico still remains shut after recent hurricanes (ida and Nicholas)
– United States and Australia said that they will strengthen relationship with Taiwan
– ECB rejected overnight Financial Times report that said internal inflation forecasts at the Bank may warrant an earlier rate hike. Story surfaced after ECB Chief Economist Lane reportedly said in a private meeting that ECB expects inflation to hit 2% goal in 2025
– Chinese state media say that Evergrande should not bet on government bailout and instead look for market ways to save itself
– Precious and industrial metals gain while oil and agricultural goods pull back
– CAD and AUD are the best performing major currencies while JPY and USD lag the most

While the situation on the stock markets was mixed during the Asian session, AUDJPY – FX pair often viewed as risk barometer – managed to move slightly higher. The pair bounced off the support zone ranging above the 23.6% retracement of the correction launched in May 2021. Key near-term support is marked with recent local high near 50% retracement.

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