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POPULAR NEWS
Wall Street Ends Sharply Higher On German Stimulus Optimism

U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. While all three major U.S. stock averages ended the session higher, they still logged their third consecutive weekly losses, having been rattled since Monday by growing U.S.-China trade animosity, simmering geopolitical tensions and signals from the bond market that sparked fears of impending...

AUD/JPY still trading near the recent bottom, Asia markets to remain thin
Tuesday, 20 February 2018 09:29 WIB | CURRENCIES | YenAussie

AUD/JPY traded flat in thin Monday markets and is heading into Tuesday testing just beneath 84.50.

Monday saw the US markets taking a break to observe President's Day, and the Asia session will continue to remain subdued with Chinese institutions dark for the first half of the week to celebrate Chinese New Year.

The Reserve Bank of Australia (RBA) dropped their Meeting Minutes today, but little surprises were to be found as all of the information has already been processed and priced in by market participants, with the RBA mostly reiterating what has already been said in recent weeks, with inflation growth expected to remain gradual, and wage growth subdued amid tighter lending and mortgage restrictions and high levels of household debt.

The RBA noted that an increasing Aussie would hamper growth potential within Australia's economy, and with the Bank of Japan (BoJ) rhetoric falling along the same lines, AUD/JPY can expect a battle of wills going forward as both countries' central banks vie to achieve low exchange rates.

AUD/JPY Technicals

The Aussiesunk below the 200-day SMA recently, and the 34 EMA has since crossed over the major indicator, and any gains in the pair are likely to come from markets reacting to BoJ rhetoric talking down the Yen, as the Aussie has struggled to develop real forward momentum amidst middling economic growth. Support is currently priced in at 83.97 and 83.40, while a bullish move will see resistance at 84.65 and 84.82.

Source: FXstreet

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POPULAR NEWS
Wall Street Ends Sharply Higher On German Stimulus Optimism

U.S. stocks rebounded on Friday as an ebbing bond rally and news of potential German economic stimulus brought buyers back to the equities market, closing the book on a tumultuous week. While all three major U.S. stock averages ended the session higher, they still logged their third consecutive weekly losses, having been rattled since Monday by growing U.S.-China trade animosity, simmering geopolitical tensions and signals from the bond market that sparked fears of impending...

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