USD/JPY is poised at the top of the range as we count down to non-farm payrolls

Jobs data coming up next

This is the chart I’m watching at the moment. For it to break higher, US 10-year yields will need to definitively break above 2.40%.

In terms of triggers, it’s all about wage growth today. If average hourly earnings surprise with a +0.4% m/m reading rather than the +0.2% expected, that should do it.

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