Intra-Day Market Moving News and Views
03 Mar 2015 02:06GMT
USD/JPY - ....... The greenback extending yesterday's rally to 120.27 in Tokyo morning due to the initial rise in Nikkei-225 following the rise in global stock markets on Monday.
The Dow Jones industrial average and the S&P 500 both posted fresh record closing highs, while the Nasdaq Composite broke 5,000 for the first time in 15 years.
However, profit-taking capped dollar's upside somewhat and the pair retreated due to the retreat in Nikkei-225 index (currently dropped by 70 points to 18757).
Offers are now tipped at 120.20-30 and more at 120.50.
On the downside, bids are located at 119.80 adn more at 119.60-50 with stops seen below 119.50.
Yesterday the greenback maintained a firm undertone after extending last Friday's rise to 119.95 in Tokyo morning(Monday) due to dlr's broad-based strength n the continued rise in Nikkei-225 index which rose by 31 points to 18829. Bids was located at 119.65-60 n more at 119.50. On the upside, some offers were tipped at 119.95/00 with stops seen above 120.00 n 120.05, however, selling interest was noted at 120.30-40.
On Friday, BOJ Deputy Governor Hiroshi Nakaso said the Bank of Japan's commitment to achieving its 2% price target is "unshakable," and Japan now has a good chance of witnessing a "true dawn" with the economy emerging from the hit from last year's consumption tax hike and now back on a sustained growth path.
Data to be released on Tuesday:
Australia building approvals, RBA rate decision, Swiss GDP, Germany retail sales, UK construction PMI, EU producer prices, Canada GDP, producer prices, U.S. redbook retail sales and ISM New York index.
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