Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Greenback soars on yen early in Asia
On Wednesday, with producer prices on tap the evergreen buck grew versus its Japanese rival in early Asia trade.
The currency pair USD/JPY hit 110.27, ascending 0.11%, AUD/USD reached 0.8017, declining 0.04%
Measuring the greenback’s value versus a trade-weighted basket of six key currencies, the US dollar index slumped 0.03% trading at 91.89.
Japan reported August’s producer prices with a 0.1% revenue observed on month and a 3% soar on year.
Overnight, the evergreen buck was roughly intact versus a basket of key currencies because data disclosed that American labor demand was still firm, although revenues were capped as the British pound leapt to a twelve-month maximum reacting to bullish inflation data.
The US Labor Department's latest Job Openings and Labor Turnover Survey report, which is an indicator of labor demand, demonstrated that in July job openings improved to nearly 6.2m, surpassing expectations of 5.96m.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.