Intra-day Market Moving News and Views
22 Dec 2015 01:21GMT
USD/JPY - ........ Dlr pares yesterday's intra-day decline from 121.51 (Europe) to 120.84 ahead of New York midday as the greenback weakened broadly after release of weaker-than-expected Chicago Fed activity index.
However, rebound in the Dow boosted risk sentiment and triggered yen-selling.
Despite initial retreat from Australian high of 121.27 to 121.08, renewed yen-selling emerged and pushed the pair higher, suggesting consolidation above 120.84 would be seen with upside bias. Having said that, pay attention to key U.S. Q3 GDP n PCE data later today.
For now, bids are noted at 121.10-00 with stops below 120.80, however, good buying interest is touted above Dec's low at 120.35. On the upside, offers are reported at 121.50/60 and more above with stops above 121.80.
Data to be released on Tuesday:
China leading economic index, Germany consumer confidence survey, Swiss exports, imports, trade balance, U.K. consumer confidence, public sector net borrowing, U.S. GDP, PCE, Redbook, housing price index, existing home sales and Richmond Fed manufacturing index
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