- Wall Street clings to modest gains in its early session.
- 10-year US T-bond yield erases more than 1% on Thursday.
- US Dollar Index floats above the 97 mark.
The USD/JPY pair is having a tough time determining its next short-term direction on Thursday amid a lack of significant market drivers. As of writing, the pair was posting small daily gains on the day at 108.45.
Although the 10-year US Treasury bond yield is erasing more than 1% today, the fact that Wall Street is posting gains in the first half of the session hints at a mixed market sentiment, which makes it difficult for the pair to move in accordance with the risk perception.
On the other hand, following Tuesday's rebound, the US Dollar Index is moving in a relatively tight range in the upper half of its weekly range. Today's data from the U.S. showed that both Import and Export Prices declined in April and the weekly Jobless Claims for the week ending June 7 rose to 222K to come in worse than the market expectation of 216K. Nevertheless, investors largely ignored these data releases and the DXY extended its consolidation. As of writing, the index was up 0.06% on the day at 97.01.
In the early trading hours of the Asian session, Industrial Production and Capacity Utilization from Japan will be looked upon for fresh impetus. Later in the day, Retail Sales and Industrial Production figures from the U.S. will be the last data releases of the week. Meanwhile, investors will be paying close attention to headlines surrounding the escalating geopolitical tensions in the middle-east following the attacks on oil tankers in the Gulf of Oman.
Technical levels to watch for
|Today last price||108.39|
|Today Daily Change||-0.12|
|Today Daily Change %||-0.11|
|Today daily open||108.51|
|Previous Daily High||108.58|
|Previous Daily Low||108.22|
|Previous Weekly High||108.62|
|Previous Weekly Low||107.81|
|Previous Monthly High||111.71|
|Previous Monthly Low||108.23|
|Daily Fibonacci 38.2%||108.36|
|Daily Fibonacci 61.8%||108.44|
|Daily Pivot Point S1||108.29|
|Daily Pivot Point S2||108.07|
|Daily Pivot Point S3||107.92|
|Daily Pivot Point R1||108.66|
|Daily Pivot Point R2||108.81|
|Daily Pivot Point R3||109.03|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.