Real-Time AmpGFX - Bought USD/JPY (Thu 10/5/2017 10:15 AM MDT)
Bought half unit of USD/JPY at 112.77
US yields have moved to recent highs and should support the USD.
House of Reps in Congress pass a budget resolution, a step on the way to tax reform. Helping keep the momentum towards tax reform (even though there is a long way to go).
The latest polling in Japan places Abe’s LDP well in the lead.
Recent data shows strength in the US.
Fed’s Williams supported the current FOMC forecasts for gradual rate rises.
Senate confirms the appointment of Quarles to Fed Governor, a supporter of rolling back financial regulation.
I think the market is less likely to respond to a weak US labor report, and I see risk biased towards a stronger outcome, including upward revisions to August, based on strong leading indicators before the hurricanes.
Short half unit NZD/USD at 0.7158; s/l 0.7258
Long half unit USD/JPY at 112.77; s/l 111.93