By Chris Becker
US unemployment for May came in stronger than expected on Friday night, pushing the headline rate down, while risk turned straight on as US stocks rallied and futures are indicating a strong start to the week here in Asia. In currency land we saw a reversal in the Yen safe haven bid with USDJPY bursting higher, while Aussie recovered somewhat, Euro remains depressed as new Italian and Spanish governments are sworn in.
Let’s take a look at risk markets from a longer term perspective now that NFP is behind us and see if there’s been any substantive change in direction.