We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood

We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details

This website does not provide services to residents of United States.

Trader Affiliates

Market News AUD/JPY Remains Defensive Below 95.00 Amidst a Cautious Mood, With All Eyes On The BoJ Rate Decision

AUD/JPY Remains Defensive Below 95.00 Amidst a Cautious Mood, With All Eyes On The BoJ Rate Decision

AUD/JPY remains on the defensive near 94.75 in advance of the BoJ important event. In September, the Australian Manufacturing PMI decreased to 48.2 from 49.6; the Services PMI increased to 50.5 from 47.7. In August, Japan's National Consumer Price Index (CPI) rose to 3.2% from 3.3% in July. The monetary policy meeting of the Bank of Japan (BoJ) will be keenly watched by market participants.

TOP1 Markets Analyst

2023-09-22

8245

The AUD/JPY cross remains under selling pressure and trades in negative territory for the second consecutive day during the early Asian session on Friday. At the time of publication, the cross is at 94.71, up 0.03% on the day.

The preliminary S&P Global Australian Services PMI posted 50.5 in September, up from 47.8 in August, according to data released on Friday. The Manufacturing PMI fell to 48.2 from 49.6 in the previous reading. Additionally, the Composite Index rose from 48.0 to 50. The mixed Australian economic data fail to bolster the Australian dollar as investors turn cautious ahead of the Bank of Japan's (BoJ) highly anticipated interest rate decision.

On the subject of the Japanese yen, it is widely anticipated that the Bank of Japan will maintain its short-term interest rate objective of -0.1% and its 10-year bond yield target of approximately 0%. Previously, the Japanese central bank stated that monetary policy changes would not be considered until local wage and inflation data met its projections. The markets are anticipating Governor Kazuo Ueda's post-meeting press conference for any new hints regarding the timing of a policy shift and other adjustments to the Yield Curve Control (YCC).

Regarding the data, Japan's National Consumer Price Index (CPI) for August rose to 3.2% year-over-year (YoY) from 3.2% in July. In addition, the National CPI excluding fresh food rose from 3.0% in July to 3.1% in August, while the National CPI excluding food and energy rose from 4.3% to 4.3%.

Market participants will keenly monitor the Bank of Japan's (BoJ) interest rate decision, which is scheduled for Friday evening. This event could provoke market volatility and provide direction for the AUD/JPY cross.