{"id":28972,"date":"2022-05-26T13:14:00","date_gmt":"2022-05-26T12:14:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=28972"},"modified":"2022-05-30T15:24:20","modified_gmt":"2022-05-30T14:24:20","slug":"midday-brief-a-quiet-market-ahead-of-us-jobs-data","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-a-quiet-market-ahead-of-us-jobs-data\/","title":{"rendered":"Midday Brief-A quiet market ahead of US jobs data"},"content":{"rendered":"\t\t
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Markets opened with a stronger Japanese Yen as Japan unveil plans to allow tourists by June. BOJ Governor Kuroda\u2019s comments on maintaining inflation under targets strengthened the Yen despite the Fed\u2019s hawkish meeting minutes. European stocks were mixed while US stocks futures maintained a lift ahead of US jobs data. Oil<\/a> rose as US stockpiles tightens ahead of driving season.<\/p>

USDJPY<\/a> trimmed gains by -0.40% after the Dollar\u2019s short-lived rebound yesterday. The USDJPY extended losses as FOMC\u2019s hawkish outlook faded. The Yen gained traction following Kuroda\u2019s comment that more US rate hikes will not weigh on the Yen. The pair rejected the 127.55 resistance and is trading below the 127.00 level. A firmer drop sets the target at 125.00. Readings on the US of GDP QoQ, initial jobless claims and pending home sales will be a key driver of USDJPY in the near term.<\/p>

AUDCHF<\/a> is currently down by -0.26% post-AUD\u2019s New Capital expenditure at -0.3% vs 1.5% forecasted. The pair is licking its wounds after a fall to 0.6794 intraday support despite Switzerland\u2019s Ascension Day holiday. A break below the current support may lead the pair down to 0.6678. The upside move is challenged by 0.6850, yesterday`s resistance. Traders pay attention to AUD\u2019s retail sales due for release on Friday.<\/p>

EURNZD<\/a> added gains by +0.29% from Wednesday\u2019s support at 1.64688. The EUR has a modest recovery after a sharp drop caused by NZD\u2019s rate hike to 2.00% on Wednesday. NZD\u2019s hawkishness quickly receded as bears failed to take out a 2week low at 1.63717. The pair is trading below 1.6600 and a break above that level could give the 1.66977 and 1.6845 resistances.<\/p>

US stocks futures were up ahead of US GDP data due for release in the New York session. Nasdaq futures<\/a> are up +0.78% and trading slightly above the 11900 figure. A move above the 5-day high at 12099, may push bulls further up to the 12713 level. S&P 500 futures<\/a> are up by + 0.84% and bulls are capped with 4100 and 4140 to the upside. US 30 futures<\/a> gained +0.75% above the 32000 mark and near-term resistance is at 32600 and 33000 levels.<\/p>

European equities were quite mixed early in the European session. FTSE 100<\/a> maintained the 7560 level, a 14-day resistance and is the least gainer of the group with +0.09% and immediate support at 7494. CAC 40<\/a> is up by +0.71% with a bright mood above 6300 after bears failed to break 6220, a 4-days low. Bulls are capped by the 6375 and 6461 resistance. DAX<\/a> recovered by +0.84% after bouncing off the 14000 support yesterday.<\/p>

Elsewhere in commodities, oil prices have gained post US crude oil inventories data on Wednesday. The data came at -1.019million barrels vs the expected -0.737million. WTI is trading at $111 per barrel and is up by +0.48% while Brent<\/a> soared by +0.33% as it moves towards $114.74 per barrel.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Markets opened with a stronger Japanese Yen as Japan unveil plans to allow tourists by June. BOJ Governor Kuroda\u2019s comments on maintaining inflation under targets strengthened the Yen despite the Fed\u2019s hawkish meeting minutes. European stocks were mixed while US stocks futures maintained a lift ahead of US jobs data. Oil rose as US stockpiles […]<\/p>\n","protected":false},"author":4,"featured_media":29015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[380,80,666,605,48,270],"yoast_head":"\nMidday Brief-A quiet market ahead of US jobs data - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-brief-a-quiet-market-ahead-of-us-jobs-data\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Brief-A quiet market ahead of US jobs data Midday Brief-A quiet market ahead of US jobs data\" \/>\n<meta property=\"og:description\" content=\"Markets opened with a stronger Japanese Yen as Japan unveil plans to allow tourists by June. BOJ Governor Kuroda\u2019s comments on maintaining inflation under targets strengthened the Yen despite the Fed\u2019s hawkish meeting minutes. European stocks were mixed while US stocks futures maintained a lift ahead of US jobs data. 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