Bank of Japan intervention in the currency market proved to be the straw that, at least for the past several hours, has broken the camel's back. S&P futures were rising and bonds falling; no more.
Unsurprisingly, the Yen is down, down, down against the USD. For rather opaque reasons, the $A and $C have reversed their early course, and are down sharply against the USD. € and £ are somewhat lower.
This surprise means the pre-session targets are all DOA. It looks like the $C would dearly love to reach 9778 and the $A 1.0525, if the morning US Employment report doesn't turn things around -- and it may not, with the big picture report due out Friday.
Unsurprisingly, the Yen is down, down, down against the USD. For rather opaque reasons, the $A and $C have reversed their early course, and are down sharply against the USD. € and £ are somewhat lower.
This surprise means the pre-session targets are all DOA. It looks like the $C would dearly love to reach 9778 and the $A 1.0525, if the morning US Employment report doesn't turn things around -- and it may not, with the big picture report due out Friday.
No comments:
Post a Comment