USD/JPY flat-lines around 141.65 area, just above Friday’s post-NFP swing low – by hareshmenghani USDJPY NFP Fed BOJ Currencies
hour. Spot prices currently trade around the 141.65 region, just a few pips above the multi-day low touched on Friday in the aftermath of the rather unimpressive US monthly employment details.showed that the US economy added 187K jobs in July, lower than the 200K anticipated. Furthermore, the readings for May and June were revised down, which suggested that demand for workers was slowing.
That said, solid wage gains and a dip in the unemployment rate to 3.5% signalled continued tightness in the labour market. This, along with hopes for a soft economic landing, reaffirms expectations that the Federal Reserve will keep rates higher for longer and limit losses for the Greenback. Apart from this, the Bank of Japan's dovish stance continues to undermine the Japanese Yen and holds back traders from placing bearish bets around the USD/JPY pair.
The aforementioned fundamental backdrop makes it prudent to wait for strong follow-through selling before positioning for an extension of last week's retracement slide from the vicinity of the 144.00 mark, or the highest level since July 7. Moving ahead, traders now look to speeches by influential FOMC members for some impetus later during the early North American session in the absence of any relevant market-moving economic releases from the US.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This Bonkers New 141-Foot Superyacht Has a Waterfall Flowing Into the Plunge PoolSet sail for adventure on Orion One, the 141-foot superyacht that's making waves with a waterfall flowing into its plunge pool. 🛥
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, USD/JPY, Cocoa FutMarkets became increasingly bearish this week after Fitch\u2019s downgrade of its US rating, posting an \u201Ceverything selloff\u201D which saw almost every trend rally hit q
Read more »
Bitcoin, Ethereum Technical Analysis: BTC, ETH Extend Declines on Saturday, as Markets React to Latest NFP Report – Market Updates Bitcoin NewsBitcoin started the weekend trading below the $29,000 level, as markets continued to react to the latest U.S. nonfarm payrolls report.
Read more »
Long lines at Lollapalooza for naloxone -- an overdose reversal drugSome of the long lines at Lollapalooza are not for t-shirts or food.
Read more »
Actors' Strike: Hollywood Stars on the Picket LinesActors’ Strike: See our gallery of Hollywood stars on the picket lines, from Adam Sandler and Jeremy Allen White to Aubrey Plaza and Lupita Nyong'o
Read more »
BizWeek: Mall parking lot finds new use; no ducking these lines outside donut shopThe Week in Business: A mall parking lot will be used as an entertainment area; big crowds drawn to new donut shop.
Read more »