USD/JPY Bears step in to close the opening gap – by fx_ross USDJPY Currencies Fed NFP
USD/JPY
is higher by some 0.2% which has rallied from a low of 132.98 to a high of 133.38 so far. The pair has jumped into last week´s resistance although only to meet supply again, putting the pair back under pressure in Tokyo. There has been a slew of data from the Bank of Japan´s first-quarter Tankan survey showing a small rise in inflation expectations and Japanese Jibun Bank Manufacturing PMI actual coming in at 49.2 vs. the previous 48.6. regarding the oil production cut and soaring oil prices. Saudi Arabia and other OPEC+ oil producers have announced further oil output cuts of around 1.16 million barrels per day.
´´It's worth noting that the data will come on Good Friday. With markets likely to be very thin, we could get some outsize movements from the numbers, whether good or bad,´´ analysts at Brown Brothers Harriman explained. ´´Ahead of NFP, ADP reports its private sector jobs estimate Wednesday and is expected at 210k vs. 242k in February. Other key labor market data will be reported this week.
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