AUD/JPY stays near 80.50 post-Aussie data, China PMI awaited
- AUD/JPY edges higher on Monday in the Asian trading session.
- AUD remains grounded on improved risk appetite, Chinese data eyed.
- The Yen pares part of its gain on worsening COVID-19 situation in the home country.
After posting losses in the previous week, AUD/JPY is moving in a close trading band in the Asian session. The cross is struggling near the 84.50 mark and sought some confirmation to trade firmly.
At the time of writing, AUD/JPY is trading at 80.57, up 0.19% for the day.
The Aussie held the multi-day support after falling continuously from the previous month from the high above 85.00. Investors await the Reserve Bank of Australia (RBA) interests rate decision on Tuesday, the market expects that the central bank is likely to maintain its status quo.
In the recent update, the extension of lockdowns in other states in Australia weighed on the prospects of the Australian dollar. New South Wales, remained the hardest-hit state with over fresh 200 news cases on weekend.
The capital state, Sydney remained in lockdown, Queensland’ southeast extended its lockdown to the end of the week.
It is worth noting that S&P 500 Futures were trading at 4,408, up 0.44% for the day.
On the other hand, the yen remained submissive despite the upbeat economic data. The Jibun Manufacturing PMI revised higher to 53.0 in June.
That said, a slower vaccination rollout program and lockdown restriction kept the currency pressurized.
Investors are waiting for the release of the Chinese Caixin manufacturing Purchase Manager Index (PMI) data to gauge the market sentiment.