Back
3 Aug 2015
USD/JPY retreats after US data
FXStreet (Córdoba) - USD/JPY declined further after new data from the US and fell to 123.92, approaching daily lows that lie at 123.86. Currently it trades at 123.95, around the same level it closed on Friday.
Greenback was rising but lost strength after income and personal consumption data and then fell further after the ISM showed a decline from 53.5 to 52.7, while construction spending rose 0.1% in June, below the 0.6% expected.
According to James Knightley, senior global economist at ING, the employment component of the ISM remained above the 6 month average of 51.6 so it does not change the outlook for a reading above 200K for the Non-Farm payroll report on Friday. “Given the positive growth story and the likelihood of a decent payrolls figure both this month and next we think that the Fed will deliver a September hike.”
JPY recovers strength, Wall Street falls
The yen gained momentum after Wall Street opening bell. Stocks in the US are falling with the Dow Jones down 0.43% and the Nasdaq losing 0.04%, after being unable to hold to gains. US government bonds are rising with the 0-year yield below 2.20%.
Greenback was rising but lost strength after income and personal consumption data and then fell further after the ISM showed a decline from 53.5 to 52.7, while construction spending rose 0.1% in June, below the 0.6% expected.
According to James Knightley, senior global economist at ING, the employment component of the ISM remained above the 6 month average of 51.6 so it does not change the outlook for a reading above 200K for the Non-Farm payroll report on Friday. “Given the positive growth story and the likelihood of a decent payrolls figure both this month and next we think that the Fed will deliver a September hike.”
JPY recovers strength, Wall Street falls
The yen gained momentum after Wall Street opening bell. Stocks in the US are falling with the Dow Jones down 0.43% and the Nasdaq losing 0.04%, after being unable to hold to gains. US government bonds are rising with the 0-year yield below 2.20%.