Intra-Day Market Moving News and Views
29 Jan 2015 01:27GMT
USD/JPY - ........ Although the greenback briefly dropped to 117.27 in NZ/AUS due to the decline in Nikkei-225 index futures following the sell off in U.S. stock markets after Fed kept interest rate unchanged as expected, short-covering lifted the pair in Tokyo morning.
Bids are now located at 117.60-50 and more at 117.30 with stops building up below 117.10.
On the upside, offers are tipped at 117.90-00 and more at 118.20-25.
The Fed acknowledged global risks in its statement Wednesday, saying that it will take into account readings on "international developments" as it decides how long to keep key rates near zero.
Policy makers said inflation will probably slow further. U.S. oil supplies climbed to their highest level in data going back more than 30 years, exacerbating concerns over a global supply glut.
The Fed also said it's confronting divergent economic forces as it weighs the timing of the first U.S. rate increase since 2006.
Surprisingly strong job gains argue for tightening sooner, while inflation held down by a plunge in oil prices and a cooling global economy provides grounds for delay.
In other news, Chinese regulators plan to start a new round of checks on the margin lending businesses of brokerages as soon as this week, people familiar with the situation said.
On the data front, Japanese retail sales unexpectedly fell in December, slid 0.3% from November for a third straight monthly decline, the trade ministry said Thursday in Tokyo.
Earlier Japan PM Abe said peace, stability of Middle East important for Japan's energy strategy, while Japan will not give in to terrorism, it will continue to cooperate closely with international community.
Thursday will see the release of New Zealand's Trade Balance, Exports, Imports, Japan's Retail Sales, Australia's CB leading indicator, Exports, Imports, France's Consumer Spending, Germany's Unemployment rate, unemployment change, CPI, HICP, Italy's Wage Inflation, euro zone's Business Climate, Consumer Inflation Expectation, Consumer Confidence, Economic Sentiment, Industrial Sentiment, Italy's Consumer Confidence, U.K.'s Nationwide House Prices, CBI Distributive Trades, U.S.'s Initial Jobless Claims, Pending home sales
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Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.