FXStreet (Delhi) – Arnaud Masset, Market Analyst at Swissquote Bank, notes that the USD/JPY is stabilising around 123 but a slightly negative trend is starting to emerge as the effect of last Friday’s NFPs fades away.
Key Quotes
“In spite of surprisingly good numbers from Japan, USD/JPY continues to trade in a low volatility environment. Machine orders climbed 7.5%m/m in September, the first positive reading since May this year, beating market expectations of 3.1% and previous month reading of -5.7%. Yen traders’ responses were muted with most yen crosses stuck in their daily range. USD/JPY is stabilising around 123 but a slightly negative trend is starting to emerge as the effect of last Friday’s NFPs fades away. Next week’s CPI report could be a game changer as strong numbers would firmly anchored expectations for a December lift-off.”
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