Intra-Day Market Moving News and Views
The greenback edged back to 102.44 in Tokyo morning after Fri's pretty sharp selloff fm 102.72 to 102.14 (on buying of yen due to risk aversion) as tension in Ukraine eased a little. German Foreign Minister said earlier today that 'the aim remains to bring about a ceasefire in Ukraine' after holding talks with the foreign ministers of Ukraine, Russia, n France in Berlin on Sunday.
As market sentiment remains fragile n events in Russia-Ukraine at the weekend continue to capture market focus, selling dlr on recovery is favoured but position player shud look to buy on dips as Aug's bottom at 101.51 shud continue to hold n bring rebound due to dlr's broad 'consolidative' outlook. Offers are noted at 102.50-70 with stops emerging abv 102.80, whilst bids are placed at 102.10-00 with mixture of bids n stops at 101.80-70.
On the data front, U.S. will release the NAHB housing market index at 14:00GMT with forecast to remain unchanged at 53 in Aug. Looking ahead, Federal Reserve will release their latest meeting minutes on Wed n his week's major focus wud be the annual meeting of top central bank officials n economists in Jackson Hole, Wyoming fm August 21 to 23.
Recommended Content
Editors’ Picks
EUR/USD fluctuates near 1.0700 after US data
EUR/USD stays in a consolidation phase at around 1.0700 in the American session on Wednesday. The data from the US showed a strong increase in Durable Goods Orders, supporting the USD and making it difficult for the pair to gain traction.
USD/JPY refreshes 34-year high, attacks 155.00 as intervention risks loom
USD/JPY is renewing a multi-decade high, closing in on 155.00. Traders turn cautious on heightened risks of Japan's FX intervention. Broad US Dollar rebound aids the upside in the major. US Durable Goods data are next on tap.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Worldcoin looks set for comeback despite Nvidia’s 22% crash Premium
Worldcoin price is in a better position than last week's and shows signs of a potential comeback. This development occurs amid the sharp decline in the valuation of the popular GPU manufacturer Nvidia.
Three fundamentals for the week: US GDP, BoJ and the Fed's favorite inflation gauge stand out Premium
While it is hard to predict when geopolitical news erupts, the level of tension is lower – allowing for key data to have its say. This week's US figures are set to shape the Federal Reserve's decision next week – and the Bank of Japan may struggle to halt the Yen's deterioration.