Currency Updates:
AUD/USD
• Europe sells Oz jobs spike, EUR/AUD lift ~1.4350 weighs, ~0.7955 at NY open
• USD strength emerges after jobless claims, applies more bear pressure
• Steady slide sees pause near 200-HMA, support eventually gives way
• S-T stops run & 0.7890 low made, late USD weakness sees lift ~0.7905
• RBA SMP due, likely dovish, if explicit more cuts due AUD to get hit
• AUD/USD may then test support in 0.7800 area
EUR/USD
• Short covering persists in Europe & new s-t trend high hit, specs cap rally
• Slide ensues, upbeat US claims give USD broad lift, EUR/USD dives
• Unrelenting EUR sales aided by DE yield dive sees 100-DMA pierced
• 1.1237 low hit, bounce sees ground >100-DMA, ~1.1280 late in day
• Techs a bit bears on daily RSI divergence & doji
• NFP is key, above f/c (224k) result likely sees EUR/USD heavy
• 1.0050/70 test likely as US rates to rise on upped Fed lift-off chances
USD/JPY
• USD/JPY recovered w the USD, bonds & stocks as oil fell back fm key TL
• Staunch bids above 119 – closes below 119 since March quickly bought up
• Low Jobless Claims, tech reversals across assets & rumors of CB buying
• Strong NFPs & Japanese stocks needed to end USD/JPY stalemate
• EUR/JPY hit by EUR reversal from O/B daily studies & Bunds turn
Looking Ahead – Economic Data (GMT)
• : CN Exports YY Apr f/c 2.4%, -15%-prev
• : CN Imports YY Apr f/c -12%, -12.7%-prev
• : CN Trade Balance Apr f/c 39.45b, 3.08b-prev
Looking Ahead – Events, Other Releases (GMT)
• 23:50 JP BoJ to publish the minutes of April policy-setting meeting
• 01:30 AU RBA releases quarterly statement on monetary policy
