NZD building approvals grows to 3.5% to recover from the -4.4% previously.
JPY preliminary industrial production falls short of expectations to contract -3.3%. This is the fastest contraction in 12 months.
UP NEXT:
A host of data form the US tonight could get the markets moving. PCE is regarded as the real inflation indicator used by the FED, so coming in at 2% should be USD bullish.
The interest decision is highly unlikely to change today, but hawkish comments will be 'good enough' to traders to continue buying the Greenback.
TECHNICAL ANALYSIS:
USDJPY: Intraday charts are clearly bullish
Keeping in mind we do have very important US data tonight we do risk seeing little action leading up to this. That said the intraday charts are presenting us with a clean bullish trend and levels of support to consider buy setups. With Europe and London about to open we may see a mini-run up as traders anticipate positive US data, so any retracements towards the daily pivot may present buying opportunities for one last hoorah before the data dump.
Any shortfall in the figures of dovish comments should see USDJPY turn bearish quite quickly as traders who bought before the release offload their positions.
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