Intra-day Market Moving News and Views
14 Oct 2015 00:49GMT
USD/JPY - ...... The greenback continued to ratchet lower throughout Asian n European session and fell to session low at 119.55 at New York open on increased caution surrounding Fed's timing of a rate hike. Despite a brief recovery to 119.90 in New York morning, dlr met renewed selling n retreated again. Dlr's descent accelerated at Tokyo open and price tumbled to 119.54 due to the selloff in Nikkei-225 index (currently down by 279 points).
U.S. will release its retail sales and retail sales ex. autos at 12:30GMT. Street forecasts are 0.3% n 0.1% vs previous readings of 0.2% and 0.1% respectively.
A surprise to the downside would stoke further speculation that the Fed won't raise its rates this year, sending the dlr lower.
Bids have now been lowered to 119.40/50 and more below at 119.20/30 with stops building up below there whilst initial offers are noted at 119.90/00, suggesting choppy trading would be seen.
Data to be released on Wednesday:
Japan CGPI, China CPI and PPI, France CPI, Italy CPI, UK average earnings, claimant count unemployment change, ILO unemployment, euro zone industrial production, Switzerland ZEW investor sentiment, U.S. retail sales and business inventories.
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