Skip to main content

USD/JPY pressing higher this morning with US jobs on the radar later

Perhaps the writing was on the wall earlier, when an update here noted how the USD/JPY had managed to absorb the slide in the Nikkei 225 today. As also noted that was really due to the index playing catch-up with the losses stateside last night. Well, since then the dollar has pushed higher this morning and lifted to around 152.85 just now. As also noted here earlier, the USD/JPY will as usual be at the front and centre of any market reaction to the US Jobs (12.30pm GMT) and ISM report (2pm GMT) this afternoon. So, let me now look at what is broadly expected. US non-farm payrolls unexpectedly rise by 254k in September. The markets are not looking for such an upward surprise last month. Payrolls are forecast to rise by around 100k. The underlying rate of unemployment is expected to remain at 4.1%, as are average wages, at 4% annualised. The ISM data is expected to show the manufacturing index improve slightly, from 47.2 to 47.6, but as usual we need to take note of all the other components there- prices paid, new orders and employment and any of those could have an impact. The USD/JPY is right now at 152.77
 

Ready to Get Started?

Start here. Join over 3M Libertex users around the world!