Psychology for major markets October 9th

EUR/USD – USD remains firm after the strong September employment report, but is struggling to make progress sub 1.10. Scope remains to test down to 1.09, or even below if Fed officials suggest rate cuts might pause.

USD/JPY – JPY under pressure as US yields rise but verbal intervention starting suggesting 150 likely to be tough to break.

EUR/GBP – GBP softer after Bailey comments suggesting more significant easing but EUR/GBP still struggling to make ground above 0.84.

AUD/USD – Coming off the highs as USD firms after the employment report and Chinese equities dip as Golden week ends, but underlying tone solid with RBA still relatively hawkish.

Equities – S&P 500 may be toppy as US yields rise despite solid growth data with valuations stretched