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Forex Trading, Market News & Technical Analysis

Forex Trading: Asian Session Recap and Ranges

Posted by Akhilesh Ganti on Sep 5, 2013 11:01:00 PM

An extremely quiet session as the market prepares for the main event of the week namely the release of the US Non-Farm payroll data. This event has taken on added importance due to the fact that this is the last major data point prior to the FOMC meeting on September 18 where many in the market expect the FED to announce plans to taper their asset purchases. Below is a preview of what the market is expecting and a strong report, especially in the private payroll number, will surely embolden traders to ratchet up expectations for a September taper. A look at the US10YR-yield chart (below) shows that the bond market has continued to price this in as yields look to break through the 3.0% level.

NFP estimates {data:Bloomberg}
US NFP preview aug13

US10Y yield Weekly Chart {Bloomberg}
US 10yrYield 090513 resized 600

Ranges: {charts: 15min / WorldWideMarkets}(click to enlarge)
090613

 

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