Intra-day Market Moving News and Views
11 Jan 2016 01:18GMT
USD/JPY - ...... Dlr is nursing loss in Asian morning (Japanese financial markers are closed for 'Coming of Age' holiday) after initial selloff below Friday's 117.23 low to a fresh 4-month trough of 116.69 in Australia. Traders cited renewed selloff in the S. African rand triggered renewed wave of unwinding of carry trades, triggering stop-loss selling in usd/yen.
Food for thought, Fri's CFTC report revealed Japanese net positioning turned net long for the 1st time last week since Oct 2012, this explains the previous mentality of selling yen for USD in anticipation of future U.S. rate hikes has proved to be wrong.
Expect minor calm b4 the storm as market participants await the official fixing of the yuan's mid-point rate at 01:15GMT as well as performance of Chinese stocks, so pay attention of the intra-day price swings in the CSI300 for clue.
Offers are noted at 117.35/45 and more above with stops above 117.60/70.
Some bids are noted at 117.00-116.90 and more below with stops touted below 116.60.
Data to be released:
New Zealand building permits, Swiss retail sales, Eurozone sentix investor confidence, Canada housing starts and U.S. employment trend on Monday.
Japan current account, trade balance, consumer confidence index, economy watchers poll, U.K. industrial production, ,manufacturing output, NIESR GDP estimate, U.S. business optimism index, Redbook and Canada manufacturing sales on Tuesday.
China exports, imports, trade balance, France CPI, inflation ex-tobacco, Eurozone industrial production, U.S. mortgage applications and budget on Wednesday.
Japan domestic corporate goods price index, machinery orders, machine tool orders, Australia unemployment rate, employment, Germany real GDP growth, Italy industrial output, U.K. bank rate, QE total, MPC vote, U.S. initial jobless claims, export prices, import prices and Canada new housing price index on Thursday.
Japan foreign bond investment, foreign investment in Japan stock, Australia home loans, France budget, Italy consumer price index, Eurozone trade balance, U.S. retail sales, producer price index, Empire State manufacturing index, industrial output, capacity utilization, Reuters/Michigan consumer sentiment index and business inventories on Friday.
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