In the broadcast today: Will the Trend of JPY Weakness Continue? With the long overdue price correction of the Japanese yen's losses against the U.S. dollar finally underway, we take a close look at some important price levels that could be targeted and examine the factors that could continue to keep the JPY under pressure, we analyze the latest trend developments in the USD/JPY currency pair, we keep an eye on the range bound price fluctuations of the EUR/USD pair, we note the weakening of the GBP vs. USD, we highlight the market's reaction to the Japanese government's plans to buy European Stability Mechanism bonds, the U.K. BRC Retail Sales, the Euro-zone Trade Balance and Unemployment Rate, and the German Industrial Orders, we discuss new forecasts from Citigroup, Barclays and Credit Suisse, and prepare for the trading session ahead.
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EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
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Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.