Forex Today: DXY refreshes 15-month lows in Asia, a light session ahead

An eventless Asian session kicked-off the NFP-week ahead, as investors remained on the side-lines, after a volatile session witnessed last Friday. Most majors remained confined within tight trading ranges, as the dust settled over Yellen’s and Draghi’s speeches-led aftermath. However, USD/JPY traded with size-able losses on broad based US dollar weakness, while rising demand for the safe-haven Yen, in response to the reports of another missile test launched by North Korea over the weekend.   

Main topics in Asia

BOJ’s Kuroda: Policy will stay very accommodative for some time

Bank of Japan (BOJ) Governor Kuroda delivered an interview on Bloomberg TV, recorded on Friday in Jackson Hole and published over the weekend.

US 10-year Treasury yield hit 2-month low

The yield on the US 10-year Treasury note hit a 2-month low of 2.169% as Yellen’s silence on the monetary policy outlook on Friday was read as dovish sign. 

BOJ’s JGB purchases today; USD/JPY looks vulnerable below 109.00

The Bank of Japan (BOJ) said in a statement released last hour, via Reuters, it purchased JPY 100bn yen in under 1-year Japanese Government bonds (JGBS).

Gold - $1300 is so close yet so far

Gold [XAU/USD] remains bid in Asia above $1290 amid risk-off in the markets and due to the debt ceiling uncertainty in the US. 

Key Focus ahead

Today’s economic calendar remains fairly quiet, with nothing of relevance due on the cards from the Euroland, except for the M3 money supply data, while the US docket remains empty as the UK markets remain closed in observance of  the Summer Bank Holiday.

In the NA session, the US goods trade balance and prelim wholesale inventories data will fill an otherwise dry US calendar. Later this week, the US payrolls will emerge the main market moving event.

EUR/USD: Bulls gathering pace for a break above 1.1960?

Having refreshed two and a half year peaks at 1.1960 in Asia, the EUR/USD pair embarked upon a minor retreat, as the bulls took a breather after the 180-pips massive rally.

GBP/USD - Trapped between trend lines, risk reversals at 2-month low

Yellen’s silence on monetary policy on Friday pushed the GBP/USD higher to 1.2889 levels. The currency pair opened this week at a high of 1.2924 and currently trades around 1.2885 levels. 

Europe: Week ahead – Goldman Sachs

Goldman Sachs’ analysts provide a brief preview of the plenty of risk events lined up for release from the Euroland later this week.

UK: Week Ahead – Goldman Sachs

Analysts at Goldman Sachs enlist the main economic events from the UK docket this week.

The week ahead: key events for the forthcoming week - Nomura

Analysts at Nomura offered their outlooks for the week ahead, starting with the USA, the Euro area, Japan and lastly China.