4/2/2021 4:36:53 PM GMT
USD/JPY gains 1% on the week, 3.9% on the month, 7.2% on the year.
Excellent US March payrolls help to stabilize USD/JPY near highs.
Limited Good Friday liquidity inhibits currency market payroll response.
Treasury rates mark time,10-year yield moves back above 1.7%.
FXStreet Forecast Poll is neutral short-term, bearish medium and long-term.
The US yield engine continued to power the USD/JPY as the differential between Treasuries and Japanese Government Bonds almost guarantees flows into the American currency
An excellent March US payroll report helped keep the USD/JPY stable at its 12-month high on Friday after a week of gains.
4/5/2021 4:41:53 AM GMT
Asia is treading cautiously this morning despite the blowout US Non-Farm Payrolls data on Friday pushing Wall Street to an impressive finish. Greater China, Australia, Europe and Canada, to name but a few, are on holiday today, and volumes are likely to be muted as a result.
Friday s session was notable for what did not happen, then what did. The US Non-Farm Payrolls rose by 916,000 jobs, far higher than expected and broad-based across sectors. Going forward, we can expect one million-plus prints if the US vaccination efforts stay on track. US equities rose, but the rally was predominantly in the Nasdaq and not the Dow Jones. Longer-end bond yields actually fell, notably the 30-year. That dragged the US Dollar lower and lifted gold impressively for the second day in a row.
April Fool’s may be no joke for stock indices April Fool’s may be no joke for stock indices
Joe Perry March 31, 2021 8:10 PM
Although April 1st is April Fool’s day, April 2nd is not! Share:
With March month-end and Q1 quarter-end over and done with, positions have been rebalanced and window dressing has made all the big hedge funds look pretty. April 1
st is the beginning of the new month and the beginning of a new quarter, as well as, April Fool’s day. However, don’t be fooled by any of the price action that occurs in stock indices. Traditionally, new money comes into the markets at the beginning of each month. For example, the Nasdaq 100 has been positive on the first trading day of the month for 5 of the last 6 months (the only exception was January 4