- The USD / JPY rises as market sentiment improves in the US session.
- The US dollar index clings to daily gains above 100.
- The main Wall Street indices are deviating from daily lows.
After falling below 107 during the first trading hours of the US session, the USD / JPY gained traction on improving market sentiment. At the time of writing, the pair was trading at a new high of 107.18, gaining 0.15% on the day.
Data released by the United States Department of Labor showed that 2.9 million Americans claimed unemployment benefits during the week ending May 9. The fact that this reading has exceeded the 2.5 million expected by the market has caused a return of risk flows.
Reflecting the market’s sour mood, major Wall Street indices started the day down more than 1%. However, after the White House spokesperson said that President Trump was open to an economic stimulus bill for phase four coronaviruses, stocks began to recover from early losses.
DXY goes up for the second consecutive day
On the other hand, the US dollars The index (DXY) clings to daily gains above 100.40 Thursday to help the USD / JPY stretch higher. Earlier today, President Trump told the Fox Business Network that a strong dollar was a “big thing” that could help the economy rebound and trigger a wave of dollars.
On Friday, investors will pay close attention to industrial production and Retail sales data from China, which has the potential to risk perception.