Intra-day Market Moving News and Views
28 Aug 2015 02:12GMT
USD/JPY - ....... The greenback continued to ratchet higher throughout Asian n European sessions yesterday and hit a session high at 121.40 at NY midday as stock mkts globally rallied. Despite a brief pullback to 120.51 in NY afternoon, dlr found renewed buying and rose to 121.23 near NY closing, then marginally higher to 121.31 in Tokyo morning due to the rise in Nikkei-225 index together with the release of upbeat Japan retail sales.
Japan retail sales were reported at 1.6% vs forecast of 1.1%.
Bids are now seen at 120.90/00 and more below at 120.70/80 with stops building up below there whilst initial offers are noted at 121.50/60, suggesting buying on dips is still favored.
U.S. is set to release a slew of eco. data at 12:30GMT but the focus is on the release of U. of Michigan consumer confidence at 14:00GMT. Street forecast is for 93.0 vs prev. reading of 92.9.
Data to be released on Friday:
UK Gfk consumer confidence, Japan all household spending, CPI, retail sales, Switzerland GDP, France producer prices, Italy business confidence, consumer confidence, U.K. GDP (second release), Italy wage inflation, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, Germany CPI, HICP, Canada producer prices, and U.S. consumption, PCE, personal income, personal consumption, and University of Michigan consumer confidence.
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