Overview:

Watch the video for a summary of this week’s news releases and a complete top down analysis of the AUDJPY.

AUDJPY Monthly:

Monthly support at 90.71, 90.29, and 86.24, resistance at 95.67.

Monthly chart is in an uptrend showing higher tops and bottoms. However, price is rejecting the 95.67 monthly resistance level.

As the world becomes more connected than ever, money is rapidly becoming borderless. The growth in migration, as well as commercial expansion across the globe, has catalysed the huge movement of money across borders – and a large proportion of these are remittance payments. It is often the case that remittance flows from developed to developing economies as migrant workers send money back to their families at home.

Remittances are so significant that, in recent years, they have contributed more to some countries’ economies than foreign aid. 

Monzo’s voluntary gambling block is now extended to all payments facilitated by Sofort, Klarna’s direct bank-to-bank payments service 

Klarna joins the call on all banks and Open Banking providers to adopt the update, alongside Monzo and TrueLayer, to help protect hundreds of thousands of UK consumers

Bumba brings extensive experience to lead Ensono’s distinguished marketing team

Consumer demand for credit products has grown since the onset of the pandemic, according to TransUnion’s Consumer Credit 2022 white paper, which reveals changing consumer preferences and affirms the growing demand for buy now, pay later (BNPL) finance. 

The research reveals significant growth in the credit market when compared with pre-pandemic figuresi  with more consumers now intending to take out mortgages (26% versus 22%), credit cards (22% up from 13%) and unsecured personal loans (16% versus 7%) when compared with two years ago.

Bumba brings extensive experience to lead Ensono’s distinguished marketing team

EventsX, a new challenger platform, launches today, offering businesses an AI-enabled all-in-one virtual events service, to shakeup the online events industry.

“German inflation accelerated to the fastest pace since early 90s with the headline jumping to 7.8% (vs 7.6% expected).

“In Spain, after almost posting double digits numbers in March, the headline came lower in April (8.4% vs 9.8%). However, the core inflation jumped to 4.4%, and coming in a percentage point higher compared to March, which is the highest since 1995.