Intra-Day Market Moving News and Views
26 Nov 2014 02:00GMT
USD/JPY -....... Dlr weakened vs the Japanese yen on Tuesday after volatile sessions. Although price has rebounded after early sell off from 118.57 to 117.70 in Asia due to BoJ meeting minutes n comments from BoJ Governor Haruhiko Kuroda who voiced concerns over the impact of the weaker yen on the economy, price briefly jumped to 118.30 in NY morning after upbeat U.S. Q3 GDP (prelim.).
Later, dlr retreated to 117.72 in NY afternoon following the release of disappointing U.S. consumer confidence and then further to 117.67 in Wednesday's Tokyo morning.
Although intra-day's weakness in Asia suggests choppy trading with mild downside bias remains, sharp fall below 117.36 (Fri's reaction low from last Thursday's fresh 7-year peak at 118.98) is not envisaged as investors are awaiting the release of a slew of U.S. economic reports in NY morning.
At present, offers are noted at 118.00-10 and then 118.25/30 with mixture of offers and stops emerging just above 118.60.
On the downside, bids are placed at 117.40-30 and around 117.10 with stops located just below 117.00.
Wednesday will see the release of German import prices U.S. GDP and CBI distributive trades, U.S. core PCE, durables, personal income, Chicago PMI, University of Michigan sentiment, new home sales, pending homes sales change and building permits.
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