Intra-day Market Moving News and Views
03 Nov 2015 01:01GMT
USD/JPY - ......... Despite yesterday's initial weakness to 120.26 in Asian morning, the greenback gained to 120.70 in European morning before easing. Dlr found renewed buying at 120.50 in New York morning and ratcheted higher to 120.81 near New York close, then 120.85 in thin trading at Asian open as Japanese markets will remain closed today for culture day holiday.
There is a slew of data to be released from U.S. today but traders should pay attention to release of factory orders at 15:00GMT. Street forecast is -0.9% vs previous reading of -1.7%.
Bids are now seen at 120.50/60 and more below at 120.30/40 with stops building up below there whilst initial offers are noted at 121.30/40, suggesting near term upside bias is seen, hence buying on dips is favored.
Data to be released on Tuesday:
Australia RBA cash rate decision, RBA rate statement, Japan's financial market closed for Culture Day holiday, UK Markit/CIPS consutruction PMI, U.S. Redbook, durable goods revised, factory orders.
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