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AUD/JPY Is Testing Its Breakout Levels Ahead Of Tomorrow's CPI Data
Whilst Australian employment held up, it doesn't let inflation off the hook as a weak print tomorrow could see rate cut calls resurface. We've seen a few mixed messages from RBA of late. On the 10th of April, Guy Debelle sent AUD briefly higher when he reiterated higher growth expectations and that the RBA does not expect to cut interest rates. Yet when the RBA minutes revealed they’d set out the scene to cut rates (low inflation and higher unemployment) traders appeared less confident of Debelle's remarks and likely their forecasts too. Still, whilst last week's employment data dispelled immediate concerns of a ... (full story)