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Breaking news

NFP prints at 339k vs estimates of 190k, ave earnings in line at 0.3% MoM

Commodity Dollars Rise, Yen Falls as Risk Appetite Firms Overnight

Commodity Dollars Rise, Yen Falls as Risk Appetite Firms Overnight

Ilya Spivak,

Talking Points:

  • Commodity Dollars Gains, Japanese Yen Declines as Risk Appetite Firms
  • S&P 500 Index Futures Hint Risk-On Sentiment Likely to Carry Forward
  • See Economic News Directly on Your Charts with the DailyFX News App

The Australian, Canadian and New Zealand Dollars rallied as risk appetite firmed in overnight trade. The Japanese Yen weakened as the firming sentiment undercut demand for the safety-linked currency.

Asian shares soared in a move the news-wires chalked up to firming confidence in Chinese officials’ ability to stabilize on-shore markets. Data released over the weekend showed Chinese FX reserves fell by US$93.9 billion in August – the most since at least 1996 – to telegraph Beijing’s willingness to commit resources toward pushing back against recent turmoil.

The European calendar is relatively quiet in overnight trade, hinting risk sentiment trends are likely to remain in the driver’s seat for now. S&P 500 stock index futures are pointing firmly higher, suggesting the risk-on mood will probably carry onward and continue to boost high-yielding FX while weighing on funding currencies.


Asia Session

23:01GBPBRC Shop Price Index (YoY) (AUG)-1.4%-0.2%-1.4%
23:50JPYMoney Stock M2 (YoY) (AUG)4.2%4.1%4.0%
23:50JPYMoney Stock M3 (YoY) (AUG)3.4%3.3%3.3%
00:30AUDWestpac Consumer Conf Index (SEP)93.9-99.5
00:30AUDWestpac Consumer Conf SA (MoM) (SEP)-5.6%-7.8%
01:30AUDHome Loans (MoM) (JUL)0.3%0.8%4.8%
01:30AUDInvestment Lending (JUL)0.5%--0.5%
01:30AUDOwner-Occupier Loan Value (MoM) (JUL)2.2%-6.7%
05:00JPYConsumer Confidence Index (AUG)41.740.540.3
06:00JPYMachine Tool Orders (YoY) (AUG P)-16.5%-1.7%

European Session

08:30GBPIndustrial Production (MoM) (JUL)0.1%-0.4%Medium
08:30GBPIndustrial Production (YoY) (JUL)1.4%1.5%Medium
08:30GBPManufacturing Production (MoM) (JUL)0.2%0.2%Medium
08:30GBPManufacturing Production (YoY) (JUL)0.5%0.5%Medium
08:30GBPVisible Trade Balance (£/Mn) (JUL) -9500-9184Low
08:30GBPTrade Balance Non EU (£/Mn) (JUL) -1825-1620Low
08:30GBPTrade Balance (£/Mn) (JUL) -1950-1601Low

Critical Levels

CCYSupp 3Supp 2Supp 1Pivot PointRes 1Res 2Res 3

--- Written by Ilya Spivak, Currency Strategist for

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.