Intra-day Market Moving News and Views
29 Oct 2015 01:12GMT
USD/JPY - ........ Despite a brief spike down to 120.02 post FOMC's unchanged rate decision, the greenback surged to 121.26 in New York afternoon on an unexpectedly hawkish Fed, who said a rate hike in December is still on the table. However, price pared its gains and retreated to 120.91 near New York close, then ratcheted lower to 120.59 at Tokyo open on broad-based buying of jpy after the release of upbeat industrial output eased pressure on the BoJ to add to its stimulus measures.
The BoJ began its 2-day meeting today n will announce its rate decision tomorrow. Although it is widely expected that the central bank will not add to its already huge stimulus program, traders should pay attention to the language used by Kuroda in his press conference for an forward guidance.
Bids have now been lowered to 120.30/40 n more below at 120.10/20 with stops building up below there whilst initial offers are noted at 121.20/30, suggesting choppy sideways trading would be seen.
Data to be released on Thursday:
New Zealand RBNZ rate decision, Japan industrial output, industrial production, Australia exports and imports, UK Nationwide house price, Germany unemployment reports, CPI and HICP, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, U.S. jobless claims, and pending home sales.
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