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Modest Risk-Off Tone Boosts JPY

FOREX
  • JPY trades solidly ahead of the NY crossover, with USD/JPY edging off yesterday's highs of 113.95 as markets consolidate and look to book profits. Newsflow and macro catalysts have been relatively few and far between, although there remains a modest risk-off tone with equities and commodity markets both trading lower.
  • The USD Index has remained supported throughout, allowing prices to hold above the 96.00 handle, although the greenback remains well off the week's highs of 96.592 printed Tuesday.
  • The NOK is the poorest performer Thursday, reversing a decent chunk of the Wednesday gains as USD/NOK reverts back toward the 9.00 handle. Oil prices rolling off the overnight highs haven't helped, with WTI trading either side of the $72/bbl handle.
  • Weekly US jobless claims data takes focus going forward, with markets expecting IJC to dip to 220k in the most recent week. Wholesale trade sales numbers for October also cross. The speaker slate is particularly light, with no notable CB representatives due today.
Energy BulletsCommodities
Energy BulletsCommodities

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