2024.08.09 [August 9] No clear trend to market, despite dollar buying triggered by yesterday's unemployment claims
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Recap of previous trading day (August 8)
Yesterday the USDJPY moved sideways during Tokyo trading hours and into the London session, but from around GMT 12:30 it rose sharply to hit a high of 147.54.
The U.S. initial jobless claims and continuing jobless claims that were announced at that time both came in lower than expected (meaning a reduction in the number of unemployed), which was a factor in the buying of the dollar.
Recap of the Tokyo market and outlook going forward
Today the USDJPY reached a high of 147.81 at around GMT 23:00 before falling back.
A look at the 1-hour chart of the USDJPY (as of GMT 04:55 on August 9) shows a market trading without a clear sense of direction.
(20-period Bollinger Band, showing ±1 and ±2 standard deviations)
No announcements of major economic indicators or comments by influential individuals are scheduled for today.
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