The yen crosses are under pressure to wrap up the week as USD/JPY slides below 102.00. It’s beginning to feel like the USD/JPY bulls are losing their appetite to buy dips.

The calendar is fairly light but features a trio of highlights:

  1. At 1345 GMT (9:45 am ET) the Markit services PMI is due. It’s an oft-ignored indicator but the market is sensitive to the US economy at the moment so it could have a larger impact.
  2. At 1355 GMT (9:55 am ET) the University of Michigan final consumer sentiment report is out. It’s expected at 83.0 after an 82.6 preliminary reading. It’s a revision so it’s unlikely to be move markets.
  3. At 1600 GMT (noon ET) the March jobseekers report is due. The prior was a record 3347.7K.

Other events include speeches from the ECB’s Knot and the SNB’s Jordan. It’s also Friday so that means European ratings changes could hit after the London close.