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USD/JPY: can nonfarm Payrolls shift the mood? - BTMU

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Bank of Tokyo Mitsubishi explained that Global investors have become more risk averse in the near-term driven by heightened uncertainty over developments in China, North Korea, and the Middle East.

    Key Quotes:

    "USD/JPY has dropped sharply towards the lows from August. December US ADP employment data showed a 257K increase in jobs, well above market expectations 198K. However, this week’s global risk-off sentiment has overshadowed that positive impact. Tomorrow’s non-farm payroll data may not change the recent negative sentiment, even if it comes in better than consensus expectations.

    There is now considerable downside probability for USD/JPY because Japan’s external account is less supportive of JPY selling. November BoP data due out on Tuesday will likely confirm an improvement in Japan’s external position."
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