USD/JPY flirting with session highs near 111.00

Pablo Piovano FXStreet

The greenback is now gathering further traction vs. the Japanese safe haven, lifting USD/JPY to the boundaries of 111.00 the figure, or daily highs.

USD/JPY firmer ahead of US data, FOMC

After three consecutive sessions with losses, the pair has recovered the smile today and is now edging higher towards key 111.00 barrier, up from last week’s YTD lows in the 110.00 neighbourhood.

The upside in spot has found support following the performance of yields in the US money markets, where the 10-year benchmark is approaching highs near 2.37% in tandem with the rest of the markets.

Looking ahead, the US private sector is expected to have added nearly 190K jobs during March when measured by the ADP report, all ahead of the FOMC minutes due later in the European evening and Non-farm Payrolls on Friday (180K exp.).

USD/JPY levels to consider

As of writing the pair is gaining 0.14% at 110.91 with the initial hurdle at 111.61 (high Apr.3) ahead of 112.20 (high Mar.31) and then 112.26 (20-day sma). On the other hand, a drop below 110.24 (low Apr.4) would open the door to 110.15 (low Mar.28) and finally 110.09 (2017 low Mar.27).

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

AUD/USD holds rebound near 0.6900 on US-China trade optimism

AUD/USD holds the rebound near 0.6900 in the Asian session on Monday. Mixed China's inflation data for October fails to provide any inspiration to the Chinese proxy, the Australian Dollar, but China's extension of the suspension of 24% tariffs on US goods and reduced US-Iran tensions help the Aussie pair cling to recovery gains.

USD/JPY retreat in sync with USD, appraches 158.00

USD/JPY is back in the red at the start of the week on Monday, eyeing the broad US Dollar retreat amid easing US-Iran tensions. Traders also resorting to profit-taking following the blockbuster US Nonfarm Payrolls data-led rally. US CPI report is next in focus.

Gold climbs to two-day highs past $4,100

Gold resumes its recovery and surpasses the $4,100 mark per troy ounce at the beginning of the week. The yellow metal’s solid performance comes amid fresh downside pressure on the US Dollar, shrinking US Treasury yields and a marked retracement in crude oil prices.

Crypto Today: Bitcoin, Ethereum, and Ripple extend downtrend as selling pressure mounts

Major cryptocurrencies, including Bitcoin, Ethereum, and Ripple, maintain a broadly corrective tone, extending losses from the previous week. Risk-off sentiment builds in the crypto market following last week’s correction linked to Democrats sweeping the US midterms.

Two Huangs don’t make a right: Nvidia CEO caught in scandal – NVDA slides

Nvidia CEO Jensen Huang sent employees an apology for being unfaithful to his wife, following reports that he may have been targeted in a foreign intelligence operation. Why is Nvidia trading roughly 5–6% below Friday’s close in the overnight market? And – more importantly – does this actually matter to the AI trade?

Gold reclaimed $4,100. Tuesday’s CPI test decides if it holds

Gold (XAU/USD) starts the week on a positive note, reclaiming the $4,100 psychological level as the US Dollar (USD) retreats from its recent highs. The precious metal recovers from Friday's losses, although investors remain cautious ahead of Tuesday's US Consumer Price Index (CPI) report, which could determine the next direction for Bullion.