MNI: WILLIAMS SAYS JOBS DATA CONSISTENT WITH SLOWING ECONOMY

MNI BRIEF: US Aug Jobs Confirm Fed Rate Cut; U-Rate 4.2%

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, JULY -86K

MNI: BLS: NET PAYROLLS REVISIONS FOR JUNE, JULY -86K

MNI China Daily Summary: Friday, September 6

MNI BRIEF: China To Address Consumption In Next Five-year Plan

EZ/UK Bond Supply Calendar: EU Syndication; BoE APF Due Monday

CANADA AUG IVEY PURCHASING MANAGERS INDEX 48.2 SA

US AUG AVERAGE HOURLY EARNINGS +0.4% Vs JUL +0.2%; +3.8% YOY

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

JPY Bounce Soothes Oversold Condition

FOREX
  • In contrast with Wednesday's price action, the JPY is the strongest currency in G10 so far Thursday, with the currency bouncing off the multi-decade lows printed earlier in the week. Having printed 134.56 overnight - the highest level since 2002.
  • JPY's recovery appears fleeting, however, with USD/JPY's primary uptrend still intact and the pattern of higher highs still running after 10 consecutive sessions. The modest moderation in the pair has allowed the overbought condition in USD/JPY to unwind somewhat, putting the RSI back toward the 70 level - a similar pattern as seen during the March and April rallies this year.
  • GBP is among the poorest performers in G10 so far, with focus turning to an appearance from the PM Johnson, who looks to revive his fragile leadership position after a leadership challenge earlier in the week. 1.2431 and 1.2317 mark the first key levels of support in GBP/USD.
  • The ECB rate decision takes focus going forward, with the Bank seen keeping headline policy unchanged but hinting heavily that rate hikes could come as soon as July. Weekly jobless claims data is the focus in the US, while the Bank of Canada release their financial system review, with governor Macklem then addressing reporters.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.