Intra-day Market Moving News and Views
15 Dec 2015 01:27GMT
USD/JPY - ........ Despite yesterday's sharp selloff from European open high at 121.34 to as low as 120.35 at New York midday on broad-based dlr weakness, the greenback pared its losses and staged a strong rebound to 121.08 in Australia, then 121.18 in Tokyo morning and continues to trade with a firm bias.
U.S. will release its CPI mm and yy data at 13:30GMT. Street forecasts are 0.0% n 0.4% vs previous readings of 0.2% and -1.5% respectively.
Elsewhere, the FOMC begins its 2-day meeting today and market is eagerly awaiting the rate decision on Wednesday.
Bids are now seen at 120.80/90 and more below at 120.60/70 with stops building up below there whilst initial offers are noted at 121.50/60, suggesting mild upside bias remains.
Hence, buying on intra-day dips is the favored strategy.
Data to be released on Tuesday:
Australia home price index, Swiss producer and import prices, U.K. PPI input prices, RPI, RPIX, PPI core output, CPI, PPI output prices, house price, Eurozone economic sentiment, employment, Germany, current conditions, economic sentiment, leading economic index, Canada manufacturing sales, U.S. NY empire state manufacturing index, core CPI, CPI, Redbook, housing market index, net L-T flows, overall net capital flows and foreign buying.
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