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Japanese Yen and Australian Dollar News: Consumer Confidence and Aussie Inflation
On Wednesday, October 30, Japan’s consumer confidence numbers will likely impact USD/JPY price trends. Economists expect the Consumer Confidence Index to increase from 36.9 in September to 37.0 in October. An uptick in consumer confidence could signal stronger household spending, fueling demand-driven inflation. Rising inflation may raise expectations of a Q4 2024 Bank of Japan rate hike, potentially pulling the USD/JPY below 152.5. Conversely, an unexpected fall in consumer confidence may dampen consumer spending and inflationary pressures. Softer inflation and falling bets on a Q4 2024 BoJ rate hike could drive ... (full story)