Japan’s corporate earnings and household incomes are solid and there is no immediate need for stimlus measures, Japan’s Finance Minister Aso said on Friday.
On Oct. 1, the Japanese government hiked sales tax to 10% from 8%. Many obsevers believe the tax increase may dampen consumer sentiment, pushing the economy into a recession.
EUR/USD again aims for 1.0987 resistance-confluence while taking the bids to 1.0980 amid the initial trading session on Friday. 23.6% Fibonacci retracement, immediate support-line questions pair’s declines.
GBP/USD stays modestly changed after a positive day. Increasing support for the UK PM’s Brexit deal, challenges to the USD support the Cable. Eyes on the Brexit/political headlines, US data, and Fedspeak.
The USD/JPY pair extended losses and fell from 107.05 to 106.48 to mark a fresh one month low on ISM services. US stock markets recovered off their lows on Thursday – All eyes on US jobs data.
Having recovered from below a 50% mean reversion of the late June swing lows to recent highs around 1460/70, the price of Gold is turning heads again as the bulls seek out a run back towards the 1520 level.
NFP are predicted to rise by 145,000 in September following August’s 130,000 gain. The unemployment rate should be unchanged at 3.7%. Average hourly earnings will rise 0.3% on the month and 3.2% on the year as in Aug.
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