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Jackson Hole Hangover

FOREX

A Jackson Hole hangover is evident in the greenback, with the persistent drop in the US yield curve sapping further strength from the USD index. Mid-August lows are now well within reach for the greenback, increasing the focus on next week's jobs report.

JPY outperformed throughout the Friday session, with Abe's resignation helping keep the rate firm well into the close. This resulted in USD/JPY retreating further from the tried-and-tested 50-dma resistance at 106.52 and keeps the outlook subdued headed into September.

Focus in the coming week turns to the August US jobs report, with early estimates looking for the US to have added 1.35mln jobs over the month, allowing the unemployment rate to drop a further 0.4ppts to 9.8%.

Chinese PMI data is also due as well as the RBA rate decision, Eurozone inflation data, the monthly ISM releases and the Canadian jobs report.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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