We see risks of USDJPY higher, a bullish extension for the S&P 500 and a negative bias for the US 10yr through today’s US Employment data report
Thursday’s ECB meeting and announcement had only negligible market impact with the Governing Council leaving rates unchanged. The focus now quickly shifts across the Atlantic for the US March Employment data, on NFP Friday! According to Bloomberg, the Nonfarm Payrolls M/M change for February (the previous release) was 175,000, with the consensus for the March data at 206,00 and the range 175,000 to 275,000. Equivalent data for the Unemployment Rate are the prior release 6.7 %, consensus at 6.6 % and range 6.6 % to 6.7% for the March data.
From a technical analysis standpoint, we see risks of USDJPY higher, a bullish extension for the S&P 500 and a negative tone for the US 10yr through today’s US Employment data report. Click on the following links for a more in depth look at these views, with streaming audio-visual analysis for USDJPY, the S&P500 and US 10yr future.