Intra-day Market Moving News and Views
21 May 2015 02:12GMT
USD/JPY - ...... Dlr swung wildly in NY afternoon on Wednesday following the release of FOMC minutes as despite retreating sharply to 120.91 after a brief jump to a fresh 2-month peak at 121.49, price climbed back to 121.38 before dropping back to 121.03 in Tokyo morning on Thursday.
Expect fund flows to dominate the market's move ahead of the release of a slew of U.S. eco. data in NY morning session, these includes weekly U.S. jobless claims, Philadelphia Fed manufacturing survey, Chicago PMI, Leading indicator and existing home sales.
At present, bids are noted at 121.00-120.90 with mixture of bids and stops at 120.75/70 and 120.60-50.
Whilst offers are reported at 121.30-40 and around 121.60 with stops building up above 121.80.
Thursday will see the release of Australia's consumer inflation expectation, Japan's Nomural/JMMA Mfg PMI, New Zealand's budget cash balance, Japan's all industry activity, Germany's and eurozone Markit comp., service and manufacturing flash PMI respectively, U.K. retail sales, CBI trend trade, U.S. initial jobless claims, Chicago Fed actively index, Philly Fed business index and existing home sales. Investors are awaiting a speech on Friday by Fed Chair Janet Yellen to have any indication of the timing of interest rates hike.
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