The Japanese Yen strengthened firmly during today’s Asian session, sending the benchmark USD/JPY currency pair down to a fresh 2-month low close to the big round number at ¥150.

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1. In the Forex market, the Japanese Yen has easily been the strongest major currency since today’s Tokyo open, while the US Dollar has been the weakest, which is putting the USD/JPY currency pair in focus as it trades at a 2-month low very close to the important round number at ¥150.
2. There were no big surprises in the minutes released yesterday of the Fed’s FOMC most recent meeting, with the minutes continuing the dominant theme of no hurry for further cuts. The minutes also revealed the FOMC discussed pausing its balance sheet reduction program, which is perhaps a slightly hawkish tilt. However, the US Dollar is continuing to fall no matter how hawkish the central bank rhetoric.
3. Gold is showing bullish momentum again after rising again to trade at a new all-time high price just below $2,950 per ounce. Trend and momentum traders will be interested in being long here.
4. Natural Gas made a second consecutive strong gain yesterday, with natural gas futures breaking out to reach a new 1-year high. Trend traders will be interested in going long here.
5. Global equities are mostly lower, although the S&P 500 Index traded at a new record high yesterday.
6. Corn futures rose again yesterday to reach another new 1-year high.
7. President Trump is now floating the idea of a trade deal with China and raising the lumber tariff to 25%.
8. There will be a release today of US Unemployment Claims.
9. Australian Unemployment Rate data released earlier showed the rate unchanged at 4.1% as expected.

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