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News in 60 Seconds: USD/JPY hits fresh 2010 lows!

Rating: 1 votes, 5.00 average.
1 Comment
by
Sean Hyman
, 07-01-2010 at 09:55 AM (2115 Views)
Biggest % gainers: EUR/AUD up 1.33%, EUR/TRY, EUR/USD up 1.25%, EUR/NZD up 1.17% on EUR strength.

Biggest % losers: AUD/JPY down 0.93%, USD/CHF, USD/JPY, NZD/JPY, AUD/CAD, CAD/JPY on USD weakness & JPY strength.

USD/JPY hits fresh 2010 lows (not 52 week low). The pair is at 87.74 right now.

ADP was lower yesterday....Weekly Unemployment Claims were lower today...hmmmm, wonder what that says about NFP on Friday? Get ready for a bumpy economic road ahead!

The European Central Bank announced that it lent banks 111.2 billion euros for six days in order to help them cope with the expiry of its landmark 12-month loans today.

DailyFX - ECB Lends $136.5 Billion for Six Days to Cope12 Month Loans Due Today, German Retail Sales Advance in May http://www.dailyfx.com/forex/fundame...#ixzz0sRFOxGw2


Gold $1,235
Oil $74.49

GBP Manufacturing PMI basically in line at 57.5 vs. 57.6 expected (58.0 was last time).

CAD Bank Holiday today.

USD Unemployment Claims worse at 472k vs. 454k expected and 459k last time.

USD ISM Manufacturing PMI comes out at 10am EST. 58.9 is the expectation.

USD Pending Home Sales m/m come out at 10am EST today. Expectation is for -7.4%. Last time was +6.0%.

CHF SNB is "rumored" to be supporting the EUR/CHF around 1.3200ish now.

Sean Hyman
DailyFX Forum Moderator
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Comments

  1. Syd588's Avatar
    Dear Sean,
    Hi, just joined this forum tonight. I am interested in USD/JPY but having trouble finding new threads after I logged in. There was one by one of your coleagues, Iyk? may have spelt his name wrong.

    He was saying indicators buy long usd/jpy and target is 83.50'ish...

    I am new to forex, need to learn more. Have a trade open long, entered in at 84.00 so this short trend is costing me! Another thread suggest could go lower. Yen strong after March tsunami and funds coming back to Japan to rebuild, the yen weakened yesterday after S&P downgrade to negative. Today it has reversed to new lows of 81.26. Luckily tonight it is up a bit...to 81.71 as I write.

    Appreciate any help.

    Thanks.
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