Intra-day Market Moving News and Views
19 Nov 2015 01:16GMT
USD/JPY - ....... The greenback rose from European low at 123.22 to 123.61 in New York morning and briefly spiked down to 123.36 after the release of FOMC minutes.
However, dlr swiftly rose to intra-day high at 123.77 as the minutes showed chances of a rate hike in December are higher than before. Later profit-taking offers pressured the pair lower and price retreated to 123.46 at Tokyo open and remains under pressure.
BoJ will announce its rate decision at around 03:00GMT. Although there is no change expected, traders will await BoJ Governor Kuroda's press conference at 06:30GMT.
Recent data has painted a bleak picture of the Japan economy and pressure has increased on the central bank Chief to introduce new monetary easing measures.
Bids have now been lowered to 123.20/30 and more below at 123.00/10 with stops building up below there whilst initial offers are noted at 123.70/80, suggesting near term mild downside bias would be seen but position traders should look to buy on intra-day dips for a resumption of recent uptrend later.
Data to be released on Thursday:
New Zealand producer prices inputs, PPI output, Japan export import trade balance, BoJ rate decision and press conference, industry activity index, Swiss trade balance, export, import, EU current account, U.K. retail sales, CBI trends, U.S. jobless claims, Philly Fed Business index, leading index and Canada wholesale trade.
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