Free Trial

Volumes remain light ahead of the US Jobs.....>

FOREX
FOREX: Volumes remain light ahead of the US Jobs report.
- The European morning witnessed a very quiet session with FX major currency
pairs held to narrow range trade ahead of key US NFP data.
- Mild risk-off pressured in early trade with added weight from soft Spain &
Germany Services/Composite PMI data (Italy & France unchanged). EURUSD eased to
$1.1958 but failed to challenge yesterday's 3-month low ($1.1948).
- GBPJPY slipped back under Y148, targeting a move towards yesterday's low of
Y147.60. GBPUSD felt weight to hold near the base of its $1.3542-86 range. The
$1.3540/35 area provides key support which also holds the 200-dma.
- Commodity based currency pairs particularly suffered with weaker gold/copper
prices. NZD was the biggest G10 faller against the USD and looks set to
challenge a break of $0.7000. AUD pared post SoMP gains after a modest upgrade
to CPI estimates, last $0.7518. USDCAD trades just off its high at C$1.2877.
- CZK remained well supported following yesterday's hawkish hike remarks from
the CNB. Key support here at Czk25.430 from the 100-dma.
- Markets await NFP data at 1230GMT with main focus on the AHE component.

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.