Intra-day Market Moving News and Views
29 Jul 2015 01:32GMT
USD/JPY - ...... Dlr rallied on Tue as recovery in Chinese stocks after an initial 4%-drop prompted selling in yen, price rose fROm Asian low at 123.08 to as high as 123.80 at NY open before retreating in part due to profit-taking.
Later, dlr dropped back to 123.50 following the release of downbeat U.S. consumer confidence and then moved sideways for rest of the NY session and as well as in subdued Asian trading on Wed as investors are keeping their powder dry ahead of the release of important FOMC monetary policy statements later today (18:00GMT).
The U.S. Federal Reserve is widely expected to leave its benchmark federal funds rate unchanged. But market participants will sit through the statement for hints about when and how the Fed will start hiking the rate, which has been set at a range of 0.00-0.25% since Dec, 2008, in the throes of the financial crisis.
In addition, investors should pay attention to the release of U.S. pending homes sales at 14:00GMT.
At the moment, bids are reported at 123.30-20 and around 123.10 with stops building below 123.00.
On the upside, offers from various accounts are tipped at 123.80-90 then 124.00/05 with stops just above 124.20.
Wednesday will see the release of Japan's retail sales, Germany's GfK consumer sentiment, Swiss UBS consumption indicator, U.K. mortgage approvals and CBI distributive trades, U.S. pending home sales change, FOMC rate decision and Fed's monetary policy statement.
Recommended Content
Editors’ Picks
EUR/USD clings to gains near 1.0700, eyes on key US data
EUR/USD clings to gains near the 1.0700 level in early Europe on Thursday. Renewed US Dollar weakness offsets the risk-off market environment, supporting the pair ahead of the key US GDP and PCE inflation data.
USD/JPY keeps pushing higher, eyes 156.00 ahead of US GDP data
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, recapturing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming intervention risks. The focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold price lacks firm intraday direction, holds steady above $2,300 ahead of US data
Gold price remains confined in a narrow band for the second straight day on Thursday. Reduced Fed rate cut bets and a positive risk tone cap the upside for the commodity. Traders now await key US macro data before positioning for the near-term trajectory.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Meta Platforms Earnings: META sinks 10% on lower Q2 revenue guidance Premium
This must be "opposites" week. While Doppelganger Tesla rode horrible misses on Tuesday to a double-digit rally, Meta Platforms produced impressive beats above Wall Street consensus after the close on Wednesday, only to watch the share price collapse by nearly 10%.