06.09.2019: USD could recover today (USDХ, JPY, AUD)

06.09.2019: USD could recover today (USDХ, JPY, AUD)


The US dollar regained some of its losses, trading steadily in the Asian session. This dynamic indicates that traders are anticipating a strong report on the US labor market. Safe haven assets are losing ground amid improving sentiment in financial markets. Growing appetite for risk rests on several factors like the recent upbeat economic data from the US, the news on revival of the trade talks, and easing political tensions in the UK and Hong Kong. The US dollar index rebounded to 98.41 from a one-week low and again dipped to 98.37. The US currency won back some of losses against its Australian and New Zealand rivals. Today the AUD/USD pair is extending the uptrend. It settled up at 0.6831. The Japanese yen closed the Asian trade at near 107 with an uptick versus the US dollar. Today traders shift focus to the crucial data on the US private employment and a speech by Jerome Powell. So, the market is going to trade with higher volatility. If the US economy creates 180,000 new jobs and more, the US dollar could strengthen to over 107.50 against the yen. On the other hand, weak nonfarm payrolls could dent sentiment of the dollar bulls and assure the Federal Reserve to resort to aggressive monetary easing. A short-term trajectory of the yen depends on the government employment report and a rhetoric of Jerome Powell.

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