Intra-day Market Moving News and Views
17 Nov 2015 01:16GMT
USD/JPY - ...... Despite the initial gap-down open and retreat to session low at 122.21, the greenback rose to 123.14 at New York open, then higher to 123.28 in late New York afternoon before easing. Dlr found renewed buying at 123.16 n gained to 123.34 ahead of Tokyo open on increased speculation that BoJ would announce new easing measures after data yesterday showed Japan slipped back into recession.
U.S. is set to release a slew of eco. data but traders should pay particular attention to CPI mm and yy at 13:30GMT. Street forecasts are 0.2% and 0.1% vs previous readings of -0.2% and 0.0% respectively. As long as there is no surprise to the downside, speculation of a December rate hike will remain.
Bids are now seen at 123.00/10 and more below at 122.70/80 with stops building up below there whilst initial offers are noted at 123.60/70, suggesting upside bias remains and one should look to buy on intra-day dips.
Data to be released on Tuesday:
Australia RBA meeting minutes, New Zealand inflation expectation, Italy trade balance, U.K. CPI, PPI, RPI, DCLG house price, Germany ZEW reports, euro zone ZEW economic sentiment, U.S. CPI, Redbook, weekly real earnings, capacity utilization, industrial output and NAHB housing market index, net L-T Flows, net capital flows.
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