workingtraders
Short

$AUDJPY - #BOJ GDP Suprises. #AUD Another rate cut in the cards?

FX:AUDJPY   Australian Dollar/Japanese Yen
Technical :

On chart.

Would target low 91s



Fundamentals:


AUD

Weak CAPEX.
Weak China data
Possible another cut.

BOJ
Q1 GDP (sa) +1.0% q/q (expected +0.7% q/q, preliminary was +0.6%)
Q1 GDP annualized (sa) +3.9% (expected +2.8%, preliminary was +2.4%)


This pick-up in capex will be very well received by BOJ.

it should be a yen positive as it will make further BOJ easing very difficult


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