Japan’s trade balance data continued to haunt the yen against the greenback even in today’s Asian session. September’s merchandise trade balance was at Y-920.0B, from the previous Y-960.3B. Meanwhile, adjusted merchandise trade balance for the same period slid sharply from the previous Y-791.379B to Y-1,045.000B.
Because of the news, the USD/JPY pair continued to rise during today’s trading, rising past the 98.30 zone. The pair is currently trading at 98.31, with initial resistance seen at 98.47, followed by 98.72. Meanwhile, initial support is at 97.98, followed by 97.73.
After its major gains last week, the EUR/USD pair has slightly weakened so far in this week’s trading. From peaks at around the 1.3700 zone, it slid over the past few hours and is currently trading at 1.3667, with initial resistance seen at 1.3685, followed by 1.3719. Meanwhile, initial support is at 1.3645, followed by 1.3611.
As for the AUD/USD, the pair peaked at around the 0.9670-0.9680 area before sliding down the 0.9650 zone over the past few hours. It is currently trading at 0.9648, with initial resistance seen at 0.9668, followed by 0.9692. Meanwhile, initial support is at 0.9628, followed by 0.9604.
Focus on NFP Today
The main driver in today’s trading is likely to be the US Nonfarm Payrolls data for September. The release of the data was delayed due to the two-week impasse in the US government. Analysts expect the US NFP to rise to 180K compared to the previous 169K. However, since this data is typically volatile and difficult to predict, estimates range from 95K to 245K for September. Because of this, expect a lot of volatility when trading the greenback in today’s session.
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