Published: 2026-06-05T06:35:03.000Z
EUR/USD, USD/JPY flows: Risk pullback, adds to the Iran and payrolls focus
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Some pullback seen in tech, to be seen if its a correction or one-day-dip
Outside Iran, payrolls the main focus of the day
Pullback in tech stocks adding to the mix, on top of the lack of Iran progress. Broadcom fell back after earnings didn't meet elevated expectations - the Nasdaq future is off around -1%. The Kospi was off around -5.5% overnight. FX pretty steady but another dimension to add to the equation for next week to see if the wider high beta risk pullback extends or proves another one-day dip (8k~ closing is key support on the Kospi for instance).
Focus today otherwise very much on payrolls. We are broadly in line with market in looking for a solid 85k headline.