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JPY Mid-day Analysis

The yen continues to decline in a fashion that suggests conditions in the global economy are on the mend.

Apparently the flow of US data this week has reversed sentiment toward the Dollar.

Fortunately for the bull camp the Canadian has partially corrected the short termoverbought condition ahead of the US payroll results.

The Pound is short term technically overbought and it might also be fundamentally challenged if the USnon-farm payroll result is hot.

Today’s ECB meeting should not be a reason for anyone to postpone vacation plans or

NBP kept interest rates unchanged as expected … … but left door open for a possible rate cut On Wednesday, the National Bank of Poland (NBP)

The key event risk for EUR this week is today’s ECB meeting. We and the market expect no new policy announcements from

Today’s highlights: AUDUSD falls sharply to leave the market crucially poised above its uptrend and price support at .9366/22.

Fading within its rising channel. • EUR/USD has broken to the upside out of its horizontal range defined by 1.3503 and

After ADP, it will take something ‘big’ like a 250K+ nonfarm payroll to get the market excited.

AUDUSD fell from 0.9435 to 0.9379 following RBA Governor Stevens’ statement that the AUD is significantly overvalued.

EURUSD: The pair moved down to 1.3641 before bouncing back a bit.