Anna 
During Thursday’s European session, AUD/JPY continued to climb, trading higher around 99.90. The Australian Dollar (AUD) sustained its upward momentum, buoyed by encouraging economic data from Australia, which contributed to the strength of the AUD/JPY cross.
The positive sentiment in the Australian equity market also supported the AUD’s gains, with the ASX 200 Index experiencing a surge, following a rally on Wall Street from the previous session.
In February, Australia’s seasonally adjusted Employment Change witnessed a significant surge, surpassing expectations and the previous figure. Moreover, the Unemployment Rate saw a modest increase, falling below anticipated levels.
March showed resilience in Australia’s private sector, with both the preliminary Judo Bank Services PMI and Composite PMI indicating continued growth in the services sector. However, there was a slight decline in the Manufacturing PMI, suggesting a slowdown in manufacturing activity during the same period.
The Japanese Yen (JPY) faced losses amid the prevailing risk-on sentiment, with the Bank of Japan (BoJ) maintaining accommodative financial conditions. Chief Cabinet Secretary Yoshimasa Hayashi of Japan highlighted the need to monitor foreign exchange movements closely following the Federal Reserve’s decision, emphasizing its potential impact on both the Japanese and global economies.
