In forex today, Asia markets were a thin affair, with China on holiday for their fifth workday in a row, constraining trade volumes and leaving the early sessions with anemic chart action. Shanghai and Hong Kong’s financial sectors will be back in force next week, but first traders need to scrape through another US Non-Farm Payrolls mega-event first.
Australia saw Retail Sales for August beat expectations, but only barely, scraping in with a reading of 0.3% versus the expected 0.2%, but with trade war tensions between the US and China, Australia
EUR/USD: 50-hour EMA is stiff hurdle, focus on the US wage growth figure
Italy has become a long-term negative factor for the Euro looking forward, presenting a drag on the currency as markets round the bend into NFP Friday, with a Treasury yield rally spurring on the US Dollar as the EUR/USD pairing tests a touchy 50-hour EMA.
GBP/USD back to 1.30 ahead of another US NFP risk event
The Sterling is looking for some bids as Brexit continues to hang over the GBP/USD, and the pair is looking to grow some legs underneath a recovery from a one-month low. Thin data populates the economic calendar ahead of NFP, and markets will be buckling down for the US event as the week winds down.
Key notes from Asia
Treasuries witnessed biggest outflow since March 2016: Lipper – Reuters
BOJ keeps size of super-long JGB buying unchanged from previous operation – Reuters
Australia August retail sales beat estimates
Asian stocks see soft retreat as bond yields give investors cause for concern
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