{"id":22032,"date":"2023-07-13T08:21:25","date_gmt":"2023-07-13T08:21:25","guid":{"rendered":"https:\/\/www.xtreamforex.com\/?p=22032"},"modified":"2023-07-13T08:21:25","modified_gmt":"2023-07-13T08:21:25","slug":"aud-jpy-cross-gains-momentum-surpassing-100-hour-sma-after-hitting-two-day-high","status":"publish","type":"post","link":"https:\/\/www.xtrememarkets.com\/MU\/aud-jpy-cross-gains-momentum-surpassing-100-hour-sma-after-hitting-two-day-high\/","title":{"rendered":"AUD\/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High"},"content":{"rendered":"

AUD\/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High<\/span><\/h1>\n

The AUD\/JPY<\/strong><\/a> cross is showing signs of momentum, pushing past the 100-hour Simple Moving Average (SMA) and reaching a two-day peak. This trend mirrors the progress of the EUR\/USD pair, which is also advancing towards a fresh 2023 high close to 1.1150. The performance of both pairs has been influenced by a general weakening of the US dollar.<\/span><\/p>\n

The AUD\/JPY cross has managed to ascend to a two-day high, notably breaking through the 100-hour SMA. Market observers are now keenly waiting for the release of the Producer Price Index (PPI), an important economic indicator due later today.<\/span><\/p>\n

Meanwhile, recent data from the US Bureau of Labor Statistics (BLS) reveals that the country’s Consumer Price Index (CPI) fell to 3% year-on-year in June, down from 4% in May. This figure came in slightly lower than the market estimate of 3.1%. Concurrently, core CPI inflation, which excludes unpredictable food and energy costs, slipped from 5.3% to 4.8%. Despite these decreases, both the CPI and core CPI saw monthly increases of 0.2%, not quite meeting analysts’ forecasts.<\/span><\/p>\n

In response to these milder inflation figures, the US Dollar<\/strong> faced renewed selling pressure. As a result, the US Dollar Index (DXY), a measure of the dollar’s performance against six major currencies, dropped to its lowest level since April 2022, just over the 100.50 mark.<\/span><\/p>\n

The inflation data indicates a potential easing of inflationary pressures in the US economy. With the next Federal Open Market Committee (FOMC) meeting scheduled for July 25-26, the market is expecting a rate hike. However, the likelihood of more rate hikes by the end of the year has decreased significantly.<\/span><\/p>\n

In Europe, the European Central Bank (ECB) is maintaining a hawkish stance due to ongoing inflationary pressures in the Eurozone, and is likely to raise its policy rates by a quarter percentage point later this month. Final inflation figures for June, measured by the Consumer Price Index (CPI), showed a month-on-month increase of 0.3% in Germany and a year-on-year rise of 1.9% in Spain.<\/span><\/p>\n

Investors will be closely watching another set of US inflation data due to be released on Thursday. The Producer Price Index (PPI) is projected to fall from 6.6% to 6.1% annually, with the core figure expected to decrease from 5.3% to 4.8%. Furthermore, the ECB is set to release the minutes of its most recent meeting on Thursday, providing additional insights into its monetary policy direction.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

AUD\/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting Two-day High The AUD\/JPY cross is showing signs of momentum, pushing past the 100-hour Simple Moving Average (SMA) and reaching a two-day peak. This trend mirrors the progress of the EUR\/USD pair, which is also advancing towards a fresh 2023 high close to 1.1150. The performance<\/p>\n... continue reading<\/a>.","protected":false},"author":3,"featured_media":22033,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[500,265,19,24,35,157,242,201],"yoast_head":"\r\nAUD\/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting<\/title>\r\n<meta name=\"description\" content=\"The AUD\/JPY cross is showing signs of momentum, pushing past the 100-hour Simple Moving Average (SMA) and reaching a two-day peak.\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.xtrememarkets.com\/MU\/aud-jpy-cross-gains-momentum-surpassing-100-hour-sma-after-hitting-two-day-high\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"AUD\/JPY Cross Gains Momentum, Surpassing 100-hour SMA after Hitting\" \/>\r\n<meta property=\"og:description\" content=\"The AUD\/JPY cross is showing 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