Intra-Day Market Moving News and Views
24 Feb 2015 02:14GMT
USD/JPY - ....... The greenback briefly rebound to 119.35 on Monday, however, active cross buying in yen knocked price lower in New York.
Offers are now tipped at 119.15/20 and more at 119.30-40.
On the downside, some bids are located at 118.80 and more at 118.70-65 with stops only seen below 118.50.
On the data front, U.S. existing home sales, released on Monday, declined 4.9 percent to an annual rate of 4.82 million units, the lowest level since last April. U.S. home resales fell sharply to their lowest level in nine months in January amid a shortage of properties on the market.
Although Nikkei-225 index retreated briefly in Tokyo morning, it pared early losses and currently rose by 17 points to 18484, prompting some investors to buy usd/jpy.
Earlier Japan ECONMIN Amari says Japan-US TPP talks are behind schedule.
Yesterday although the greenback met selling interest at Asian open and retreated to 118.88 in Asia, price pared its losses and rose to intra-day high at 119.35 in early European morning.
However, renewed selling there capped gains and price fell to session low at 118.82 in NY as investors remain cautious ahead of Fed Yellen's testimony on Tuesday.
Data to be released on Tuesday:
China market holiday, New Zealand RBNZ inflation expectation, Germany GDP, France business climate, UK BBA mortgage approvals, EU inflation, U.S. Caseshiller and consumer confidence, Federal Reserve Chair Janet Yellen’s testimony before the U.S. Senate Banking Committee.
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