Intra-day Market Moving News and Views
15 Oct 2015
00:44GMT

USD/JPY - ....... The greenback continued to ratchet lower throughout Asian and European sessions and dropped to 119.07 in New York morning after the release of poor U.S. retail sales data. Intra-day decline accelerated and price tumbled to intra-day low at 118.63 in New York afternoon as the release of a slightly dovish Fed Beige book increased speculation that the Fed won't raise its rates anytime soon.
However, price found renewed support at Asian open and rebounded strongly to 119.09 due to the early rise in Nikkei-225 index.

There is a slew of data from U.S. today but pay particular attention to the release of jobless claims and CPI mm and YY at 12:30GMT. Street forecasts are 270K, -0.1% and -0.2% respectively. A release of downbeat figures would further fuel speculation that the central bank is not ready to hike its rates, hence sending dlr lower.

Bids are now seen at 118.80/90 and more below at 118.60/70 with stops building up below there whilst initial offers are noted at 119.20/30, suggesting further choppy trading would be seen before recent decline resumed.

Data to be released on Thursday:

New Zealand manufacturing PMI, Australia employment change, full-time employment, participation rate and unemployment rate, Japan Tertiary Industry Index, industrial output, capacity utilization, U.S. real weekly earnings, jobless claims, NY Fed manufacturing, CPI and Philly Fed business index.

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