Published at 02:00 (GMT) 12 Aug
USD/JPY supported by firmer Nikkei now +0.42%, and broadly firmer USD. Though vulnerable to downside on Cross/JPY sales as EUR, GBP, AUD. NZD lower. AUD/JPY at 94.65-70, NZD/JPY at 86.40-45, GBP/JPY at 171.60-65, EUR/JPY at 136.75-80.
Nikkei vulnerable to any risk aversion, having been supported by well-advertised comments on reported GPIF Portfolio shifts. Up stocks to more than 20% from 12%. Down JGBs from 60% to 40%.
USD/JPY trading between 20-25 pips raneg of 102.19 to 102.36 so far. Offers from Japanese exporters, eye carmakers, Asian accounts, real money, Asian Cbs, options 102.40-50 and rallies to 103 handle again. Bids at 102.20-30, weak stops below 102.20 now. Then 102.00-10. Stops below 101.80. Focus on key 2-week lows of 101.51.
NZD/JPY at 86.40-45, offers 86.80-00, bids at 86.00-10. 2-way Japanese investors, funds and models interest. Focus still on the 5-month lows of 85.70-75 seen on Friday. Lowest since March 5 85.52. NZD/USD at 0.8441-45, offers 0.8480-00, bids at 2-month lows of 0.8422-23, stops below 0.8420/ 0.8400. With Kiwi weighed by recent sharp fall in Dairy prices, and also Fonterra milk payouts - weighing on economy and growth. WL
Recommended Content
Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.