Yen At 116, US Employment Numbers Next

By MarketPulse (Kenny Fisher)CurrenciesJan 06, 2017 06:17AM ET

www.investing.com/analysis/citros:-oferta-reduzida-em-2017-deve-sustentar-cota%C3%A7%C3%B5es-da-laranja-200171697

Yen At 116, US Employment Numbers Next

By MarketPulse (Kenny Fisher) | Jan 06, 2017 06:17AM ET

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USD/JPY

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+0.01%

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USD/JPY has posted slight gains on Friday, as the pair trades at the 116 line. On the economic front, there are no Japanese releases to wrap up the week. In the US, the spotlight is on employment numbers, with three key events – Nonfarm Payrolls, Average Hourly Earnings and Unemployment Rate. Traders should be prepared for possible volatility in the currency markets in the North American session.

The US dollar retreated in the Thursday session, following the release of the Federal minutes from the December meeting. The Japanese yen joined the bandwagon, gaining 1.5% on Thursday. The Federal Reserve minutes were cautious in tone, with Fed policymakers essentially saying that monetary policy in the coming months will be dictated in large part by the economic platform of the incoming Trump administration. FOMC members are concerned about higher inflation levels, given the “prospects for more expansionary fiscal policies in the coming years”. This is a clear reference to president-elect Trump’s plans to increase fiscal spending and cut taxes, which would likely result in higher inflation, something the US hasn’t had to deal with for years. Still, policymakers appear unchanged in their view that gradual rate hikes remains an appropriate monetary policy. The Fed members acknowledged that there is “considerable uncertainty” regarding future fiscal and economic programs. Many analysts are predicting another rate hike in June, but this could of course change, depending on the performance of the US economy in the first half of 2017.

Friday (January 6)

8:30 US Average Hourly Earnings. Estimate 0.3%
8:30 US Nonfarm Employment Change. Estimate 175K
8:30 US Unemployment Change. Estimate 4.7%
8:30 US Trade Balance. Estimate -42.2B
10:00 US Factory Orders. Estimate -2.1%
12:15 US FOMC Charles Evans Speech

*All release times are GMT

*Key events are in bold

USD/JPY for Friday, January 6, 2017

USD/JPY

USD/JPY January 6 at 6:00 EST

Open: 115.34 High: 116.39 Low: 115.23 Close: 115.96

USD/JPY Technicals

S3	S2	S1	R1	R2	R3
113.80	114.83	115.88	116.88	118.05	118.85

USD/JPY posted gains in the Asian session. In European trade, the pair posted gains but has retracted
115.88 is a weak support
116.88 is the next resistance line
Current range: 115.88 to 116.88

Further levels in both directions:

Below: 115.88, 114.83 and 113.80
Above: 116.88, 118.05, 118.85 and 119.83

OANDA’s Open Positions Ratio

USD/JPY ratio is unchanged in the Friday session. Currently, short positions have a majority (54%), indicative of slight trader bias towards USD/JPY continuing to move to lower ground.

Original post

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Central Banks

Interest Rates

Next Meeting

FED

4.50%

Mar 19, 2025

ECB

2.90%

Mar 06, 2025

BOE

4.50%

Mar 20, 2025

SNB

0.50%

Mar 20, 2025

RBA

4.10%

Apr 01, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

US 30	43,221.0	-19.1	-0.04%
US 500	5,867.8	+6.1	+0.10%
Dow Jones	43,239.50	-193.62	-0.45%
S&P 500	5,861.57	-94.49	-1.59%
Nasdaq	18,544.42	-530.84	-2.78%
S&P 500 VIX	21.13	+2.03	+10.63%
Dollar Index	107.230	+0.010	+0.01%

Crude Oil WTI	70.11	-0.24	-0.34%
Brent Oil	73.33	0.00	0.00%
Natural Gas	3.915	-0.021	-0.53%
Gold	2,891.05	-4.85	-0.17%
Silver	31.583	-0.689	-2.14%
Copper	4.5805	-0.0135	-0.29%
US Soybeans	1,028.50	+3.75	+0.37%

U.S. 10Y	4.233	-0.054	-1.26%
U.S. 30Y	4.514	-0.040	-0.88%
U.S. 5Y	4.047	-0.058	-1.41%
U.S. 3M	4.324	+0.013	+0.30%
US 10Y T-Note	111.00	+0.39	+0.35%
Euro Bund	133.14	+0.25	+0.19%
10-2 Yield Spread	17.88	-1.73	-8.82%

Apple	237.30	-3.06	-1.27%
Alphabet A	168.50	-4.23	-2.45%
Tesla	281.95	-8.85	-3.04%
Amazon.com	208.74	-5.61	-2.62%
Netflix	963.07	-26.99	-2.73%
Meta Platforms	658.24	-15.46	-2.29%
Bank of America	44.12	+0.18	+0.41%

Yen At 116, US Employment Numbers Next

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