In what really has changed perceptions over when the US Federal Reserve will begin to wind back their monthly bond purchases, non-farm payroll figures over the past three months have shown average employment growth to have grown by 202 000 for each 30 day period. Given the Greenback's revival the USD/JPY came close to the important mark of 100 as it opens stronger this morning at 99.699.
In other currency moves the Euro has stabilised since last weeks notable sell off ranging between 1.3358 – 1.3455 yesterday opening steady this morning at 1.3424. Keeping the focus on The Fed this week markets will get further insights over their thinking tomorrow when Vice Chairman Janet Yellen testifies before the Senates Banking Committee during her confirmation hearing to succeed Ben Bernanke.
Data releases
AUD: Wage Price Index q/q, Westpac Consumer Sentiment
NZD: RBNZ Gov Wheeler Speaks
JPY: Core Machinery Orders m/m
GBP: Claimant Count Change, Unemployment Rate, Average earnings index 3m/y, BOE Gov Carney Speaks, BOE Inflation Report
EUR: Industrial Production m/m, German Buba President Weidmann Speaks
USD: 10-y Bond Auction, Federal Budget Balance
Source: ozforex
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