Intra-day Market Moving News and Views
27 Nov 2015 01:28GMT
USD/JPY - ..... Although dlr brief bounced to 122.73 in delayed reaction to early release of lower-than-expected Japan's inflation data (see 00:23GMT update for details), lack of follow-through buying quickly led to profit taking and dlr eased from said Asian high.
As U.S. market will close early later today in observance to Thursday's Thankgiving Day holiday, intra-day sideways move is expected to continue, however, as early strong rebound from 122.26 (Wed) to 122.94 signals recent decline has made a low there, buying dlr on dips for at least a strong retracement of aforesaid decline is favoured.
Traders reported good buying interest at 122.50 and some stops are touted below there, however, more bids are reported above 122.26 with stops building below there.
On the upside, initial offers are noted at 122.75 and more are seen at 122.95/00 would stops above there.
Data to be released on Friday:
Japan jobs/applicants ratio, unemployment rate, household spending, CPI reports, New Zealand business outlook, U.K. consumer confidence, national house price, Germany import price index, consumer sentiment, France consumer spending, producer prices, Italy business confidence, consumer confidence, EU business climate, inflation expectation, consumer confidence, economic sentiment, industrial sentiment, service sentiment, selling price expectation, Canada producer prices, raw material prices.
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