Intra-Day Market Moving News and Views
19 Sep 2014
USD/JPY - ...... Dlr continues its recent winning streak and surged to a fresh 6-year peak of 109.45 shortly after Tokyo open as intra-day rally in the Nikkei (currently up by 235 points at 16302) boosted risk sentiment, leading to broad-baesd selling in the yen.
Although price has pared intra-day gain ahead of Tokyo lunch session, buying on dips is the way to go, however, it is advisable to take profit ahead of 110.00 as profit-taking below this 'rumoured' option barrier is expected ahead of the weekend.
Although no major U.S. data are due out today, traders may stand aside later on in NY session ahead of the September 20-21 G20 meeting in Cairns, Australia.
Bids are noted at 109.10-00, 108.90/85 and then 108.70-60 with stops emerging below 108.50.
On the upside, offers from various accounts are placed at 109.50-70 region and further out at 109.90-00.
Earlier Japan gov't said 'cut overall economic view, saying economy in moderate recovery while weakness seen in some areas; cuts view on private consumption, saying it is seen recently although pick-up trend remains intact.'
Recommended Content
Editors’ Picks
EUR/USD clings to gains near 1.0700, awaits 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 closes below key $2,318 support, US GDP holds the key
Gold price is breathing a sigh of relief early Thursday after testing offers near $2,315 once again. Broad risk-aversion seems to be helping Gold find a floor, as traders refrain from placing any fresh directional bets on the bright metal ahead of the preliminary reading of the US first-quarter GDP due later on Thursday.
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.
Meta takes a guidance slide amidst the battle between yields and earnings
Meta's disappointing outlook cast doubt on whether the market's enthusiasm for artificial intelligence. Investors now brace for significant macroeconomic challenges ahead, particularly with the release of first-quarter GDP data.