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Poised To Finish Week On Firmer Footing

EURJPY

EUR/JPY is poised to register gains for the fourth day in a row and finish the week in the green. The rate has added 14 pips thus far and last trades at Y126.49, struggling to make a move at Thursday's peak.

  • The EU's tug-of-war with AstraZeneca escalated further, with the bloc expected announce tightening rules on the exports of Covid-19 jabs today. A European official told BBG that European Council Pres Michel "has also raised the prospect of effectively seizing control of vaccine production if those measures fail to get the programme back on track."
  • Germany excluded people over 65 years old from inoculation with the AstraZeneca vaccine after raising concerns over the efficacy of the jab among the elderly.
  • A clearance of yesterday's high of Y126.67 would encourage bulls to take aim at Y126.87, which represents the high print of Jan 12. On the flip side, losses past Jan 27 low of Y125.60 would clear the way to Jan 18 low of Y125.09.
  • Focus moves to German unemployment and flash German & French GDP reports, while the ECB speaker slate is empty today.
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