Intra-day Market Moving News and Views
05 Aug 2015 02:35GMT
USD/JPY - ...... Dlr rallied in NY afternoon session after comments from Atlanta Fed President Dennis Lockhart who said 'Fed is "Close" to being ready to raise short-term rates'. Price rose to 124.41 in NY afternoon n then eased to 124.26 before climbing higher to 124.48 in Asian morning on Wednesday as renewed weakness in eur/usd led to broad-based usd's strength vs its major peers.
Earlier in Asian morning on Wednesday, data showed that Japanese services sector activity expanded in July at a slightly slower pace than the previous month, suggesting only a moderate rebound in the economy after an expected contraction in the second quarter. The Markit/Nikkei Japan Services PMI fell to a seasonally adjusted 51.2 in July from 51.8 in June.
In Asia and early Europe, dlr's intra-day firmness vs Japanese yen in Tokyo morning on Wednesday suggests consolidation with upside bias would be seen and buying the pair on dips is recommended.
However, sharp gain above last week's top at 124.58 is not envisaged and price should falter below 125.00 ahead of the release of a slew of U.S. eco. reports in NY morning, these include ADP employment, U.S. international trade balance, Markit services PMI and ISM-mfg PMI.
At the moment, bids from various accounts are noted in 124.20-124.00 region with stops below 123.80 whilst some offers are tipped at 124.50-60 and more above with stop touted above 124.80.
Wednesday will see the release of New Zealand's HLFS unemployment rate and labour cost index, China's Caixin services PMI, Swiss CPI, Germany's, eurozone and U.K. Markit services PMI respectively, eurozone retail sales, U.S. ADP National employment, Canada's exports, imports and trade balance, U.S. ISM non-manufacturing PMI.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
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.