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Currency Analyst since 2010

USD/JPY rose ahead of NFP

Asian stocks showed moderate gains on Thursday, although Chinese shares lost more than 3%. In addition, the market’s sentiment is soured by concerns about Greece. On Wednesday the nation’s Prime Minister Tsipras urged Greeks to reject an international bailout deal on the referendum that will take place on Sunday, July 5. EUR/USD edged up from 1.1030. The ECB President Mario Draghi will speak at 15:10 GMT.

USD/JPY recovered to 123.46. Japanese yen declined after the US released better-than-expected ADP employment report on Wednesday (237K vs. 219K expected). Traders are awaiting American non-farm employment change and unemployment rate due at 12:30 GMT. Better figures from the United States increase expectations that the Federal Reserve will lift interest rates.

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