Article Highlights

  • Japanese household spending up 2.9% y/y in Aug vs. 0.4% forecast
  • Japan’s unemployment rate up from 3.3% to 3.4%
  • Australian retail sales increased by 0.4% as expected
  • New Zealand ANZ commodity prices up by 5.5% in Sept, -5.2% previous
  • Chinese markets closed for the holiday
  • Spanish unemployment change and U.K. construction PMI due
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Dollar forex pairs seem to be having the pre-NFP jitters, but there were still a few good moves for the Japanese yen and currency crosses. USD/JPY is holding steady just below 120.00 (-0.01%), EUR/USD is down 15 pips to 1.1177 (-0.14%), GBP/USD is up 12 pips at 1.5144 (+0.10%), and USD/CHF is up 10 pips to .9779 (+0.11%).

Japan printed mixed economic reports, with its household spending up by a whopping 2.9% year-over-year in August and the unemployment rate rising from 3.3% to 3.4%. The country also released more deets on its Q3 Tankan survey, indicating that Japanese businesses expect the CPI to reach 1.2% in a year.

EUR/JPY is down 20 pips and testing the 134.00 handle (-0.15%), GBP/JPY is up 26 pips to 181.65 (+0.15%), AUD/JPY is flat at 84.28 (+0.00%), and NZD/JPY is holding steady around 76.72 (+0.03%).

Australia reported a 0.4% increase in retail sales as expected, erasing the 0.1% decline seen in the previous month. In New Zealand, ANZ reported a 5.5% rebound in commodity prices for September, recovering from the previous 5.2% decline. EUR/AUD is down 26 pips at the 1.5900 mark (-0.10%), GBP/AUD is up 34 pips to 2.1547 (+0.16%), EUR/NZD is down 23 pips to 1.7468 (-0.13%), and GBP/NZD is up 40 pips to 2.3670 (+0.17%).

Will euro weakness prevail in the next few hours? Spain is gearing up to print its latest unemployment change report and might show a 17.9K increase in joblessness, less than the earlier 21.7K rise. Meanwhile, the U.K. will print its construction PMI at 9:30 am GMT and possibly show a climb from 57.3 to 57.5, reflecting a faster pace of expansion in the industry.

If you ain’t interested in catching any of these potential short-term forex moves, I suggest you sit back and relax while reading my buddy Forex Gump’s Trading Guide for the U.S. NFP Report. Enjoy!

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Kanye West and Kanye West. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!