Dollar keeps steadier so far on the session, payrolls in focus

Technical Analysis

Dollar holds steady after the gains yesterday

The greenback is sitting a little more mixed across the board but changes are rather minimal so far on the day. EUR/USD is resting in a 28 pips range with USD/JPY only trading in a 19 pips range as European traders enter the fray.

Risk sentiment remains rather muted while Treasury yields are flat, with the market turning its attention to the US non-farm payrolls report later in the day.

USD/JPY will be one to watch after holding a break above 110.00 and key Fib retracement level @ 110.14 yesterday. The question will be thrown back to buyers later if they can sustain the momentum post-NFP going into the weekend.

That will help to provide some technical confidence to perhaps test the year’s highs closer to 111.00. But a lot will also ride on the bond market reaction over the next two weeks.

Invest in yourself. See our forex education hub.

Articles You May Like

Australian August consumer inflation expectations 5.9% (vs. prior 6.3%)
Swiss Franc Rises in Very Quiet Markets Euro and Sterling on the Soft Side
Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit
Top 5 cryptocurrencies to watch this week: BTC, FLOW, THETA, QNT, MKR
US Redbook weekly retail sales +10.4% y/y vs +15.5% prior