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4 Jun 2013
Flash: June to see USD weakness? - DBS Group
FXstreet.com (Barcelona) - DBS Group analysts believe that It is too early to conclude from one day’s trading that June will be a weak month for the USD.
They add that USD/JPY is near two technical supports, the 50-day moving average at 99.09 and a trendline support around 98.40. They write, “Yesterday’s price action also affirmed that this will be a week dependent on US data. The US ISM non-manufacturing PMI out tomorrow could easily offset the disappointment in its manufacturing counterpart. Tomorrow’s ADP employment report will be a prelude to the week’s most important data – Friday’s non-farm payrolls and unemployment rate.”
They add that USD/JPY is near two technical supports, the 50-day moving average at 99.09 and a trendline support around 98.40. They write, “Yesterday’s price action also affirmed that this will be a week dependent on US data. The US ISM non-manufacturing PMI out tomorrow could easily offset the disappointment in its manufacturing counterpart. Tomorrow’s ADP employment report will be a prelude to the week’s most important data – Friday’s non-farm payrolls and unemployment rate.”