There is no trade call for the session. Ahead we have Industrial Production from the UK, of which the manufacturing component will be watched closely.
Current Sentiment:
Early in the Asia-Pacific session, Fed Chair Yellen spoke. She did not provide any surprises to the market and generally reiterated comments that had already been made.
The Japanese Current Account beat estimates at 1.73T. USDJPY has bounced off NY session lows at 108.66 and has rallied 130 pips to find resistance at the 109 handle. The move to the downside was overdone and retracement higher was due. Direction from here will mainly be a function of risk sentiment. Yesterday’s moves in yen and stocks were mainly caused by downgraded global growth forecasts.
WTI has rallied back up to Wednesday’s highs, helping commodity currencies bounce off lows. AUDJPY is up 150 pips from NY session lows.
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AUD/USD regains the constructive outlook above the 200-day SMA
AUD/USD advanced strongly for the second session in a row, this time extending the recovery to the upper 0.6500s and shifting its focus to the weekly highs in the 0.6580-0.6585 band, an area coincident with the 100-day SMA.
EUR/USD keeps the bullish performance above 1.0700
The continuation of the sell-off in the Greenback in the wake of the FOMC gathering helped EUR/USD extend its bounce off Wednesday’s lows near 1.0650, advancing past the 1.0700 hurdle ahead of the crucial release of US NFP on Friday.
Gold stuck around $2,300 as market players lack directional conviction
Gold extended its daily slide and dropped below $2,290 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield erased its daily losses after US data, causing XAU/USD to stretch lower ahead of Friday's US jobs data.
Bitcoin price rises 5% as BlackRock anticipates a new wave of capital inflows into BTC ETFs from investors
Bitcoin (BTC) price slid to the depths of $56,552 on Wednesday as the cryptocurrency market tried to front run the Federal Open Market Committee (FOMC) meeting. The flash crash saw millions in positions get liquidated.
FOMC in the rear-view mirror – NFP eyed
The update from May’s FOMC rate announcement proved more dovish than expected, which naturally weighed on the US dollar (sending the DXY to lows of 105.44) and US yields, as well as, initially at least, underpinning major US equity indices.