Analysis and Opinion »

USD/JPY edges lower ahead of nonfarm payrolls

Share on StockTwits
Published on

USD/JPY eased down in Asia with EURJPY sales leading both pairs down. Reports German-Greek Finance Ministers couldn’t come to an agreement contributed. Hope does remain for an EU-Greek debt deal however, limiting the EUR push down.EUR/JPY pushed down from 134.93 to 134.45 in thin trading, making tracks away from last night’s 135.14 high. USDJPY was dragged down in sympathy from 117.55 to 117.27.

EUR/USD and most of the EUR complex traded soggier in Asia following rallies yesterday. Europe and the US took a more sanguine approach to the ECB move on Greek debt, and hopes for an EU-Greek deal remained. Late news that the German and Greek FinMins could not come to any agreement helped EUR down modestly in Asia. EURJPY again led the way, down from 134.93 to 134.45. EURUSD edged down from 1.1486 to 1.1461. Large option expirations at 1.1400 (982 mln), 1.1450 (751) and 1.1500 (1.543 bln) helped anchor the market down.
EURGBP traded soggy between 0.7478-88. EURCHF was the exception, getting a bump up from 1.0570 to 1.0596 before steadying but on no volume and essentially going nowhere in Asia.

GBP/USD consolidated overnight gains in Asia, holding between 1.5319-40 and just below last night’s 1.5345 high. Technically, a break up above 1.5345-55 could see a leg up to 1.55 and levels last seen in early January.

USD/CHF got a bump up from 0.9208 to 0.9241 in sync with the EURCHF bump up.

AUD/USD opened in Asia at 0.7800 and kept to a very tight 0.7795-0.7808 range ahead of the RBA MPS. The report was balanced and contained no fresh guidance. With some players expecting the worst after Tuesday’s surprise OCR cut, a relief rally ensued, sending AUDUSD to 0.7860News of the government leadership spill was taken in stride. A vote Tuesday is still possible but unlikely

The post USD/JPY edges lower ahead of nonfarm payrolls appeared first on Forex Circles.

Share on StockTwits