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Forex Flash: Good news continues with Chinese service sector recovery – Societe Generale

Kit Juckes, Global Head of Currency Strategy at Societe Generale notes that China’s service-sector is recovering and the trend of good news continues.

He writes, “Friday’s US payroll data put employment growth at 1.5% y/y, enough to sustain moderate economic growth. There are still no signs of inflationary pressure and there is absolutely no reason to believe the fed is going to change tack any time soon.”

He feels that the factors which have driven asset inflation at a frantic pace still dominate and the market is split between those who believe the disconnect between assets and underlying economic activity is unsustainable, and those who think the weight of QE inspired buying is too big to fight. He places himself very firmly in the latter camp.

Forex: USD/JPY establishing session highs threatening the 93.00 level

The USD/JPY has is trading steadfastly in positive territory and is establishing session highs in these moments at 92.93, threatening the vaunted 93.00 level during European trading Monday. The pair is currently rising +0.12% above its opening after recovering from as low as 92.49 (session low) today.
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Forex: EUR/USD below 1.3600, Sentix eyed

The bearishness surrounding the euro continues to accelerate on Monday, ahead of the investor confidence in the euro zone, gauged by the Sentix index. Market consensus expects the index...
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