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It’s NFP Day!
Economists polled by Reuters expect the US nonfarm payroll figure for June, to be released at 1330BST, to show a 179,000 rise in US nonfarm payrolls (NFP) after May’s increase of 138,000. Remembering that the May number came in substantially below forecasts, traders might wonder if it is a case of hope springs eternal for[…]
ECB Paper Chase Could Support Taper Arguments
European Central Bank (ECB) Chief Economist Peter Praet may have spoken dovishly on Tuesday but that didn’t stop US bank Morgan Stanley writing on Wednesday that “EURUSD has started to correct its latest bull sequence from the April 1.0570 low, which is expected to take time but not move much on price. We would not[…]
If Dollar/Yen Is Finding A Base, Might May’s High Attract?
Risk aversion, related to the latest North Korean missile launch, gave the Japanese yen a boost on Tuesday in the Asian session as weak dollar/yen longs (USDJPY) were liquidated. The issue for traders is whether the downside momentum is going to be maintained in USDJPY or whether the yen’s bounce will be short-lived. With that[…]