Intra-Day Market Moving News and Views USD/JPY
16 Apr 2014 02:47GMT
USD/JPY - 102.23... BoJ governor Kuroda says 'watching stock market moves carefully; stock prices move on various short-term factors but as a trend, they reflect expectation about corporatate revenues; BoJ's QE having postive impact on stock prices, don't think it is fueling speculative market moves.'
Dlr penetrated 102.00 res level in Tokyo morning as comments fm BoJ Governor Haruhiko Kuroda (see our prev. MMN updates) boosted risk appetite. Later, price climbed again after China posted a 'higher-than-expected' Q1 GDP at 7.4% (forecast was a slowdown to 7.3%).
Intra-day improved risk appetite due to the rise in Asian bourses suggests buying dlr is the favoured strategy until European morning. If Nikkei is able to maintain its rally n closed up by more than 200 points on Wed, stronger gain to 102.50/60 shud follow later today. Bids are noted at 101.90-80 n then 101.65/60 with stops emerging below 101.50, whilst offers are placed at 102.40-50 n further out at 102.85/90 with stops located just abv 103.00.
Market focus today will be on Fed Chair Janet Yellen when she delivers another speech at 16:25GMT (y'day's one did not impact the market). However, investors shud also pay attention to an earlier speech fm BoJ Governor Haruhiko Kuroda in Tokyo at 06:15GMT n the U.S. housing n industrial data in NY morning. Last but not least, we have another market-moving Fed Beige book which will be released at 18:00GMT.
16 Apr 2014 02:47GMT
USD/JPY - 102.23... BoJ governor Kuroda says 'watching stock market moves carefully; stock prices move on various short-term factors but as a trend, they reflect expectation about corporatate revenues; BoJ's QE having postive impact on stock prices, don't think it is fueling speculative market moves.'
Dlr penetrated 102.00 res level in Tokyo morning as comments fm BoJ Governor Haruhiko Kuroda (see our prev. MMN updates) boosted risk appetite. Later, price climbed again after China posted a 'higher-than-expected' Q1 GDP at 7.4% (forecast was a slowdown to 7.3%).
Intra-day improved risk appetite due to the rise in Asian bourses suggests buying dlr is the favoured strategy until European morning. If Nikkei is able to maintain its rally n closed up by more than 200 points on Wed, stronger gain to 102.50/60 shud follow later today. Bids are noted at 101.90-80 n then 101.65/60 with stops emerging below 101.50, whilst offers are placed at 102.40-50 n further out at 102.85/90 with stops located just abv 103.00.
Market focus today will be on Fed Chair Janet Yellen when she delivers another speech at 16:25GMT (y'day's one did not impact the market). However, investors shud also pay attention to an earlier speech fm BoJ Governor Haruhiko Kuroda in Tokyo at 06:15GMT n the U.S. housing n industrial data in NY morning. Last but not least, we have another market-moving Fed Beige book which will be released at 18:00GMT.
Recommended Content
Editors’ Picks
EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
GBP/USD consolidates above 1.2500, eyes on US PCE data
GBP/USD fluctuates at around 1.2500 in the European session on Friday following the three-day rebound. The PCE inflation data for March will be watched closely by market participants later in the day.
Gold clings to modest daily gains at around $2,350
Gold stays in positive territory at around $2,350 after closing in positive territory on Thursday. The benchmark 10-year US Treasury bond yield edges lower ahead of US PCE Price Index data, allowing XAU/USD to stretch higher.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.