Intra-day Market Moving News and Views
30 Dec 2015 01:05GMT
USD/JPY - ...... Although dlr maintains a firm undertone in subdued Tokyo trading, the intra-day sideways move in New York session yesterday despite dlr's rally vs European currencies suggests market is not interested in buying the pair due to yen's strength vs EUR and GBP.
As financial markets in Japan will be closed for Bank holiday tomorrow, trading is likely to be lethargic in Asia n European morning n with U.S. pending home sales being the only data that may capture traders' notice later today, further sideways move is expected to continue.
Offers are reported at 120.55/65 with some stops above there, however, more selling interest is touted at 120.90/00.
Initial bids are noted at 120.30-20 and more below with stops below 120.00, however, as reported earlier, there is market chatter of scaled-down buying interest by Japanese importer fm 120.00-119.50 area, so downside on dlr should be pretty much ltd. Therefore, if you are an avid dlr/yen trader, you'd better start singing 'auld lang syne' today.
Data to be released on Wednesday:
U.K. nationwide house price, Swiss UBS consumption indicator, Italy producer prices, U.S. MBA mortgage applications, pending home index and pending home sales change.
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