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Friday, October 2nd
USD/JPY is trading flat just above 120 as household spending jumps and employment data is in red colour. This morning, the statistics bureau pf Japan reported the household spending figures, which were significantly higher than expected at 2.5% versus 0.5% anticipated by analysts. Unemployment rate was slightly higher at 3.4% in comparison with August figure of 3.3%. The support and resistance levels are at 119.11 and 121.11, respectively.
AUD/USD was slightly higher after disappointing manufacturing data from US on Thursday, when the ISM Manufacturing PMI was reported to be at 50.2 despite the expectations of 50.6 figure. Earlier today, Australian retail sales came out in line with expectations with 0.4% growth rate. Current quote is 0.7039 and closest support is located at 0.6979, while resistance is viewed at 0.7139.
EUR/USD was falling ahead of NFP data publication later in the day. The US Labor market data is going to be critical news as it is likely to indicate the likelihood of Fed raising the interest rates next month. This stipulated the greenback’s gains overnight. In euro zone, the manufacturing PMI was in line with expectations at 52.0. The support is seen at 1.1109 and resistance at 1.1296.
GBP/USD is likely to have a very volatile session today after its considerable losses in course of this week. The British GDP numbers were in red colour, but yesterday’s manufacturing PMI was more positive. Although, the cable slipped lower to 1.5150 and is currently covering the suffered losses. Investors are viewing British Construction PMI with support at 1.5044 and resistance at 1.5270.
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