Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
29 Jun 2015      02:05GMT

USD/JPY - ...... Although dlr gapped down to 122.74 at NZ open on Monday (Fri's closing price at 123.87) as worries over the fallout from the apparent collapse of debt talks with Greece fuelled caution and broad-based buying of yen on risk aversion pressured price to a fresh 1-month trough at 122.11, short-covering lifted price ahead of Asian open and dlr later climbed back above 123.00 level to 123.19 in Tokyo morning following the 'yen-negative' comments from BoJ's governor Kuroda before easing.

Expect fund flows to dominate the market until the release of U.S. pending homes sales (14:00GMT) in NY morning. Market estimates the U.S. pending home sales change to show another growth of 1.2% in May compare to the increase of 3.4% in preceding month, supporting by a gain in mortgage applications and new home sales.

At the moment, offers are noted at 123.50-60 and then 123.70/75 and 123.85/90 with stops building just above 124.00.
On the downside, bids are placed at 122.50-40 and more around 122.20 with stops emerging below 122.00.

This week will see the release of Japan's industrial output and retail sales, U.K. mortgage approvals and lending, euro zone business climate, consumer confidence, economic, industrial and services sentiment, German CPI, HICP, Canada's producer prices and U.S. pending home sales on Monday.

U.K. GfK consumer confidence, New Zealand NBNZ business outlook, Australia's HIA new home sales, Japan's construction order and housing starts, Germany's retail sales, Swiss KOF indicator, Germany's unemployment rate, U.K. current account, GDP, inflation report hearings, Canada's GDP, U.S. Redbook, Chicago PMI and consumer confidence on Tuesday.

Japan's Tankan, China's NBS manufacturing and non-manufacturing PMI, Australia's building approvals, private house approvals, Japan's manufacturing PMI, China's HSBC manufacturing PMI, Swiss manufacturing PMI, Germany's, eurozone and U.K. Markit manufacturing PMI respectively, U.S. ADP employment, Makit manufacturing PMI, construction spending, ISM manufacturing PMI on Wednesday.

U.K. BRC shop price index, Australia's trade balance, U.K. Nationwide house price and Markit construction PMI, eurozone producer prices, ECB monetary policy meeting, non-farm payrolls, unemployment rate, initial jobless claims, ISM, factory orders and durable goods on Thursday.

Australia's retail sales, China's HSBC services PMI, Germany's and U.K. Markit services PMI, eurozone retail sales on Friday.