Intra-day Market Moving News and Views
03 Dec 2015 02:36GMT
USD/JPY - ...... Dlr moves narrowly in subdued Asian trading after yesterday's volatile price swings.
Despite intra-day cross-inspired rise which started in Asia to 123.20 in Europe n then break of this level following upbeat U.S. ADP employment report and subsequent rally to session highs of 123.68 after Fed Chair Yellen's hawkish comments, broad-based long liquidation sent the pair sharply lower back down to 123.10 before stabilising.
Although sideways trading is in store, as yesterday's sharp retreat from 123.68 signals further choppy consolidation below November's 12-week peak would continue, at least until Friday's key U.S. jobs data, selling dlr on recovery is favoured. Offers are noted at 123.35/45 and more above with stops reported above 123.80.
Initial bids are noted at 123.10-00 with stops below there. However, more buying interest is touted at 122.70-60.
Pay attention to more U.S. data at 15:00GMT n then another public speech by Fed Chair where she testifies before Congressional Joint Economic Committee at 15:00GMT.
Data to be released on Thursday:
Australia service index, exports, imports, trade balance, China service PMI, France unemployment rate and service PMI, Italy service PMI, Germany service PMI, U.K. service PMI, euro zone's service PMI, retail sales, ECB rate decision, ECB press conference, U.S. initial jobless claims, mfg PMI, durable goods orders, and factory orders.
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