The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
For two days in a row, the AUD/JPY pair has been trying to attract both sellers and buyers. After the Reserve Bank of Australia announced its policy decision, spot prices continued to take a defensive position, trading above the round level of 104.00.
As expected, the RBA decided to keep the official OCR cash rate unchanged at 4.35% for the fifth meeting in a row. In addition, it is assumed that the RBA may raise the interest rate this year due to high inflation. Therefore, such an action will serve as a wayward for the Australian dollar and will support the pair.
Nevertheless, data on China released on Monday highlighted the rise of the world's second-largest economy. Accordingly, this overshadowed the RBA's statements about higher interest rates, thereby undermining the position of antipodean currencies, including the Australian dollar. Meanwhile, the Japanese yen is receiving support from statements by the chairman of the Bank of Japan, Kazuo Ueda, that, of course, depending on economic data, the central bank is ready to raise rates in July.
In addition, speculation that the Japanese authorities may intervene to support the national currency further contributes to the fall of the AUD/JPY pair.
Nevertheless, the positive risk tone in the markets as a whole, which tends to reduce demand for a safe yen, ahead of the press conference of RBA Governor Michele Bullock, supports the risk-sensitive Australian dollar and thereby should help limit any significant drop in the pair.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
