USDJPY: At Least Someone Likes To Perform

USDCHF, GBPUSD and EURUSD are content to just idly pass the time. USDJPY on the other hand has taken afoot and gained on NFP new that showed job losses in the US were NOT as bad as expected. In fact, some speculate that had there not been such bad weather the last 30 days, that we may have even had a zero or positive number. Well, I don't know about that, but what today’s price action does tell me is that even though the US job numbers are getting better, there are few that are willing to throw their money at the risk wall. Some of the crosses have decided to move significantly along with the USDJPY, but those are mostly JPY paired currencies.

Taken in stride, so far the NFP release was basically a non event as far as risk sentiment goes. Next week’s news starts with CHF unemployment numbers on Monday. This will be followed up with the CHF CPI number on Tuesday. When Wednesday finally rolls around we will get a peek at GBP NIESR GDP Estimates followed up by German CPI numbers. So far, nothing to really create a stir, as I see it. Thursday is likely to be a yawn also with only AUD Unemployment and SNB Rate decisions. Finally Friday will give us US Advance Retail Sales, and probably the only market mover of the week. I am not saying the others don't have the potential to create some movements, but the US Advanced Retail Sales will be a highly anticipated release.

If more US consumers are indeed finding employment, their wallets should be making their way to retail outlets. If Retail sales come in slower than expected, it may be sign that consumers are not secure in spending their checks yet, and may  hold onto more of their income in the future. Not a good sign for an extended recovery.