Intra-day Market Moving News and Views
05 Nov 2015
01:13GMT

USD/JPY - ......... The greenback found renewed buying at 121.00 at European open yesterday and gained to 121.34 in European morning, then rallied to intra-day high at 121.72 in New York morning on dlr's broad-based strength following the release of upbeat U.S. services PMI and ISM non-manufacturing PMI data.
However, profit-taking offers there capped intra-day gains and price retreated. Dlr continues to remain under pressure in Tokyo morning after the release of BoJ minutes, weighed by broad-based buying of JPY.

Pay attention to the release of U.S. jobless claims at 13:30GMT. Street forecast is for a slight increase to 262K from previous reading of 260K.

Bids are now lowered to 121.30/40 and more below at 121.10/20 with stops building up below there whilst initial offers are noted at 121.90/00, suggesting buying on dips is still the favored strategy.

Data to be released on Thursday:

Japan BoJ monetary policy meeting minutes, Switzerland consumer confidence, CPI, Germany industrial orders, euro zone retail sales, U.K. BoE inflation report, BoE MPC vote outcome, BoE rate decision, U.S. initial jobless claims, unit labour cost, productivity, and Canada Ivey PMI.

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