Intra-Day Market Moving News and Views
23 Mar 2015 02:38GMT
USD/JPY - ...... Dlr tumbled on Fri due to renewed broad-based selling in the greenback, price fell from European high of 121.20 to 119.90 in NY session, then marginally lower to 119.83 in Australia earlier today before recovering.
Despite dlr's marginal breach of 119.90 to 118.83, lack of follow-though selling and intra-day recovery in Asian morning suggests consolidation above said intra-day low would be seen.
However, sentiment on dlr remains mildly bearish after Friday's decline, so selling the pair on intra-day recovery is recommended.
At the moment, offers are noted at 120.25/30 n then 120.55/60 with mixture of offers and stops emerging above 120.80.
On the downside, bids are placed at 119.80-70 and around 119.60 with mixture of bids and stops located at 119.40 and further out below last Wednesday's 2-week trough at 119.29.
This week will see the release of U.K. CBI trends, U.S. existing home sales and eurozone consumer confidence on Monday.
Australia's CB leading index, China HSBC manufacturing PMI, Germany's manufacturing PMI, eurozones manufacturing PMI, U.K. CPI, PPI, RPI and DCLG house price, U.S. CPI, Redbook and new home sales on Tuesday.
New Zealand's exports, imports and trade balance, Germany's Ifo business climate, U.S. durable goods, SNB quarterly bulletin on Wednesday.
Germany's GfK consumer sentiment, U.K. retail sales, CBI distributive trades and U.S. jobless claims on Thursday.
Japan's household spending, CPI, unemployment rate and retail sales and U.K. GfK consumer confidence on Friday.
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