DAILY MARKET OUTLOOK on Major
Update Time: 10 Sept 2019 09:20GMT
USD/JPY - 107.28
Although dollar has retreated after intra-day break above last Thursday's 5-week peak at 107.22 to 107.49 in Asia on rising U.S. Treasury yields and minor consolidation would be seen, as said move signals upmove from August's 33-month trough at 104.46 has resumed, upside bias is retained for another rise to 107.82 before prospect of a correction due to loss of momentum.
On the downside, only below 107.06 would indicate a temporary top has been made and risk stronger retracement to 106.95/96 later.
Data to be released on Wednesday:
France non-farm payrolls, industrial output, Italy industrial output, UK claimant count, ILO unemployment rate, employment change, average weekly earnings.
Canada housing starts, building permits and U.S. redbook, JOLTS job opening.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.