MT101 Preference on CCY Pairs

Analysis & Outlook:GBPJPY, USDJPY, AUDJPY

While U.S. Non-farm payrolls data are expected to show the country adding a healthy number of jobs; the US Dollar has indeed regained its strength since its turning point @79.75 and have rallied towards to where it is now @82.76 higher levels. Jobs growth has been on of several driving forces that elevated the USD contrary to certain threats that may derail its advances in the coming weeks.

With inflation in the EU Zone currently @0.3%, the ECB will have to work on to bring newer policy measures within the week. And the BoE meets on Thursday's rate decision that again would be hyped as to the timing of its rate hike moving forward, contrary to the continued pressure on the Euro is weighing heavy of the market.

On the technical angle, the US Dollar Index recent corrective move was seen as a short-lived response towards the end of the months trading with a cluster island signifying a temporary decline and reversed back higher after filling in the price gap created in the early opening day in Asia. The USDCHF which is more aligned with the DXY movements have likewise moved similar to the price directive of the DXY and currently @0.9202 after the correction.

The EURUSD is currently @1.3117; as of this writing and would still hold to these levels as supported by ECB Mario Draghi's previous comments on top of the recent EU / UK-Manufacturing PMI data that was slightly off the mark has kept this pressure for the Euro to even get a technical bounce-off the low levels.While the GBPUSD has held its marks on a daily tight range between the recent low @1.6538 to its recent price swing towards 1.6643. These price swings will continue on both majors on the sideline. Meanwhile, the USDJPY's continued decline in value has provided a support for the USD and its relative Yen related Cross rates a favorable lift.

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