Intra-Day Market Moving News and Views
07 Oct 2015 00:47GMT
USD/JPY - ...... The greenback met renewed selling at 120.57 in Asian morning yesterday and retreated to 120.12 b4 staging a rebound. However, price came under renewed pressure and dropped marginally below to session low at 120.11 at New York midday. Later, dlr pared its losses n gained to 120.38 in New York afternoon and continues to remain well bid at Tokyo open.
Market attention is now on BoJ's rate decision around 03:00GMT. Although it is widely expected there won't be any new monetary decisions made today, the central bank has come under pressure from the government to provide additional stimulus for the economy. Hence, investors should pay attention to Governor Kuroda's press conference at 06:30GMT, as he may drop hints about his plans considering QE.
Bids are now seen at 119.90/00 and more below at 119.70/80 with stops building up below there whilst initial offers are noted at 120.50/60, suggesting choppy trading would be seen ahead of BoJ's rate decision.
Data to be released on Wednesday:
Japan BoJ rate decision, BoJ monetary policy statement, BoJ governor Kuroda press conference, leading economic index, Australia HIA new home sales, Germany industrial production, France exports, imports and trade balance, ECB's non-monetary policy's meeting, UK industrial production, manufacturing production; NIESR GDP estimate, Canada building permits.
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