Published: 2025-09-05T10:11:11.000Z
Psychology for major markets Sep 5
Director of Research , Macroeconomics and Strategy
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Ranges continue to dominate ahead of US employment data, but JPY weak
EUR/USD – EUR/USD edging to the top end of the 1.16-1.17 range ahead of the US employment report. Breakout of the 1.16-1.17 range will be hard to sustain without an employment gain outside the 0-100k range
USD/JPY – JPY remains generally weak despite stronger Japanese wage data and lower US yields. Risks increasingly on the JPY upside.
EUR/GBP – Concerns about UK public finances continue to undermine GBP confidence, but 0.87 remains hard to break.
AUD/USD – Pushing towards the top end of the 0.64-0.66 range.
Equities – S&P slipped as yields rose, but has recovered and remains close to the highs. Focus on upcoming US employment data.