Intra-day Market Moving News and Views
06 Jul 2015 02:32GMT
USD/JPY - ...... Despite dlr's 'gap-down' open on Mon to a fresh 1-month trough at 121.70 in NZ as the Greek 'no' vote results triggered active cros-buying of yen on risk aversion, short-covering quickly lifted price ahead of Asian and dlr later climbed back to 122.71 in Tokyo morning before easing.
Although aforesaid intra-day rebound suggests consolidation with mild upside bias would be seen ahead of European open, intra-day weakness in Nikkei index (N225 was last seen down 1.36% to 20261) should prevent sharp gain above 122.00 level and yield retreat later, therefore, whilst buying on dips is recommended in Asia, position traders can look to sell on next intra-day rise.
At the moment, bids are noted at 122.30-20 and around 122.00 with stops located below 121.70, whilst offers from various accounts are tipped at 122.90-00 and then 123.20-30 with stops building just above 123.50.
This week will see the release of Japan's Coincident Indicator, Leading Indicator, Germany's Industrial Orders, Swiss CPI, eurozone Sentix Index, U.S. Markit Service PMI, Employment Trends, ISM non-manufacturing PMI, Canda's Ivey PMI on Monday.
Australia's RBA rate decision and statement, Swiss Unemployment Rate, Germany's Industrial Output, U.K. Industrial Output and International Trade, Canada's Exports, Imports and Trade Balance, U.S. Redbook on Tuesday.
U.K. BRC Shop Price Index, Japan's Current Account, Economy Watchers Poll, U.K. Budget Report, Canada's Building Permits and U.S. FOMC Minutes on Wednesday.
New Zealand's Business NZ PMI, U.K. RICS Housing Survey, Japan's Machinery Orders, Australia's Consumer Inflation, China's CPI, Australia's Unemployment Rate, Germany's Trade Balance, Exports, Imports, U.K. BOE rate decision, Canada's Housing Starts, New Housing Price Index, U.S. Initial Jobless Claims on Thursday.
Japan's Corp Goods Price, Australia's Housing Finance, Invest Housing Finance, Japan's BoJ Monthly Eco. Survey, Consumer Confid. Index, U.K. Goods Trade Balance, Canada's Employment Change, Unemployment Rate, U.S. Wholesale Inventories, Wholesale Sales and Monthly Budget Statement on Friday.
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