Daily market outlook on major

Update Time: 05 Aug 2022 09:30GMT.

USD/JPY - 133.28

Dollar's rally from Monday's fresh 7-week trough of 130.41 to 134.54 (Wednesday) signals recent fall from July's 24-year peak at 139.39 has made a low there and despite cross-inspired decline to 132.53 today, rebound to 133.47 ahead of European open and present retreat would yield choppy sideways swings, below 133.00/05 may head back towards 132.53, then 132.29.

On the upside, a daily close above 133.47 would revive bullishness for stronger gain towards 133.79, break, 134.30/40 later.

Data to be released on Friday

UK Halifax housing prices, France current account, trade balance, industrial output, imports, exports, non-farm payrolls, Italy industrial output.
U.S. non-farm payrolls, private payrolls, unemployment rate, average weekly earnings, Canada employment change, unemployment rate and Ivey PMI.
 

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