USD/JPY edged lower on Friday after the initial Asian session at the back of the previous day’s sharp downside movement. The pair fell more than 100-pips as risk sentiment sours on the US and global growth jitters.
The US Treasury yields edged lower 1.30% on the expectations that Fed will not tighten monetary policy soon. The US Initial Jobless Claims came at 373 K, above the market forecast. The readings showed that the labor market recovery remained far from the Fed’s expectation. Lower bond yields and soft economic data-built pressure on the US dollar.
On the other hand, the Japanese yen gained on the global equity sell off. The negative sentiments around the equities and government bond yields supported the safer assets.
As for now, investors are waiting for the US Wholesale Inventories data to measure the market sentiment.
Warning:
Trading on CFDs involves a high level of risk, including full loss of your trading funds. Before proceeding to trade, you must understand all risks involved and acknowledge your trading limits, bearing in mind the level of awareness in the financial markets, trading experience, economic capabilities and other aspects.
Disclaimer:
Market Trends, Charts, Trading Ideas or other information provided by BKFX (Pty) Ltd and/or third parties are not intended as an investment advice and/or recommendation. The information provided is not presented as suitable or based on your specific need. You are responsible for your own investment decisions and you should not trade with money you cannot afford to lose. Any views or opinions presented in this Article are solely those of the author and do not necessarily represent those of the Company, unless otherwise specifically stated. The Company may provide the general commentary which is not intended as an investment advice and must not be construed as such. Seek advice from a separate financial advisor if an investment advice is needed. The Company assumes no liability for errors, inaccuracies or omissions, inaccuracies or incompleteness of information, texts, graphics, links or other items contained within this article/material.