State of the market: the market is waiting for the US employment data
At the opening of trading on Friday, there is a restrained dynamics of the main currency pairs. The restraining factor for the market is the expectations of the US employment data that will be released today. Amid expectations of employment data and positive data on business activity in the non-manufacturing sector of the United States, the US dollar slowed down the decline, which remained since Tuesday.
At the start of the day, the Bank of Japan Governor Kuroda said that key interest rates could continue to decline in the negative zone. In conditions of aggravation of the headwind for the Japanese economy and aggravation of the US-Chinese trade relations. Ideally, this should have increased pressure on the Japanese yen, the market ignored such soft rhetoric amid restrained inflation data.
Since the beginning of the day, the US dollar index has been trading slightly lower against a basket of competitors, forming lateral dynamics from 98.20-10 to 98.5-60 after yesterday’s growth on business activity data. It slowed down an almost weekly decline in anticipation of the US employment data, indicating the formation of flat for the American dollar in front of significant data.
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Hanzenko Anton
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