- 10-year US Treasury bond yield extends slide amid risk aversion.
- US Dollar Index stays calm below 98 on Friday.
- Coming up: Personal Income, Personal Spending and PCE Price Index data from US.
The USD/JPY pair struggles to make a meaningful recovery on Friday as investors continue to stay close to safe-haven assets such as the JPY amid heightened concerns over the coronavirus outbreak's negative impact on the global economy. After touching a fresh daily high of 109.15 earlier in the day, the pair erased its gains and was last seen trading at 108.95, where it was virtually unchanged on a daily basis.
In addition to the risk-averse atmosphere, the USD's uninspiring performance forces the pair to stay below the 109 mark. The US Dollar Index, which turned south on Wednesday after FOMC Chairman Powell delivered some dovish remarks, is posting losses for the second straight day on Friday and was last down 0.08% on the day at 97.80.
Eyes on US data
During the early trading hours of the American session, the US Bureau of Economic Analysis will release its closely-watched Personal Consumption Expenditures (PCE) Price Index data, which the Federal Reserve uses as its measure of inflation. Additionally, Personal Income and Personal Spending data will be looked upon for fresh impetus as well.
In the meantime, the 10-year US Treasury bond yield is down nearly 1.5% on the day and if stock markets in the US remain on the back foot ahead of the weekend, the JPY could continue to find demand as a safe-haven.
Technical levels to watch for
|Today last price||108.94|
|Today Daily Change||0.03|
|Today Daily Change %||0.03|
|Today daily open||108.91|
|Previous Daily High||109.09|
|Previous Daily Low||108.58|
|Previous Weekly High||110.22|
|Previous Weekly Low||109.17|
|Previous Monthly High||109.8|
|Previous Monthly Low||108.43|
|Daily Fibonacci 38.2%||108.78|
|Daily Fibonacci 61.8%||108.89|
|Daily Pivot Point S1||108.64|
|Daily Pivot Point S2||108.36|
|Daily Pivot Point S3||108.13|
|Daily Pivot Point R1||109.14|
|Daily Pivot Point R2||109.36|
|Daily Pivot Point R3||109.64|
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.