The AUD/JPY cross struggles to gain any meaningful traction during the Asian session on Tuesday and remains confined in a three-day-old range, well above a three-month low touched last week.
AUD/JPY oscillates in a narrow trading band for the third straight day on Tuesday. Traders opt to wait on the sidelines ahead of Australian CPI and BoJ on Wednesday. BoJ rate cut bets, a softer risk tone benefits the safe-haven JPY and caps the upside. Spot prices currently trade around the 100.85 region, nearly unchanged for the day as traders keenly await this week's important macro data and central bank event risks before placing fresh directional bets.
Headline inflation is usually expressed as a percentage change on a month-on-month and year-on-year basis. Core inflation excludes more volatile elements such as food and fuel which can fluctuate because of geopolitical and seasonal factors. Core inflation is the figure economists focus on and is the level targeted by central banks, which are mandated to keep inflation at a manageable level, usually around 2%.
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