AUD/JPY Fundamental Analysis & Economic Strength Meter - July 20, 2014
The AUD/JPY fundamental analysis is updated weekly. This is mainly derived from the recent major economic releases and news. The AUD/JPY economic strength meter at the bottom shows the relative strength or weakness of the recent economic releases and news from Australia and Japan, which may affect the relative strength of Australian dollar versus Japanese yen.
AUD/JPY - Recent economic releases
AUD: Chinese economic data has a strong positive correlation with the strength of the Australian dollar. The last week's economic releases from China were generally positive. The year over year GDP change in Q2 was 7.5% against the previous 7.4%. The quarter over quarter GDP change was 2.0% against the previous 1.4%. Year over year industrial production came out as 9.2% against the previous 8.8% and the year over year, year to date urban investments rose slightly by 17.3% against the previous 17.2%. Year over year retail sales saw a slight decline from 12.5% to 12.4%.
AUD: CB (Conference Board Australia) Leading Indicator: 0.2% against the previous -0.2%.
AUD: National Australia Bank's Business Confidence (QoQ in Q2): 6 against the previous 7.
JPY: Industrial Production (YoY): 1.0% against the previous 3.8%
JPY: Bank of Japan's Monetary Policy Meeting's Minutes
: The minutes had provided mixed sentiments. The export situation has not been good, with the first quarter of the year seen a marginal decline in the real exports and then April 2014 saw only a marginal increase which was less than expected. The business fixed investments saw a moderate increase with improvements in corporate profits. Employment and earning situation has been improving and with that the private consumption was also improving during the first quarter but took a hit in April due to the consumption tax hike. However, the retail sales again saw an improvement from May 2014. The monetary base had increased significantly as asset purchases by the Bank had progressed, and the year-on-year rate of growth had been at around 45 percent. As for the outlook for the economy, members concurred that it was likely to continue its moderate recovery as a trend, while it would be affected by the subsequent decline in demand following the front-loaded increase prior to the consumption tax hike.
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