Intra-Day Market Moving News and Views
06 Apr 2016 02:11GMT
USD/JPY - ....... Although dlr tumbled to a fresh 17-month trough at 109.92 near New York midday on Tuesday after data showed that U.S. trade deficit widened more than expected in February, short-covering emerged later in the day and lifted price to 110.55. Dlr then retreated to 110.23 in Australia before climbing marginally higher to 110.57 in Tokyo morning.
Today's focus for the market is surely on the release of FOMC minutes at 18:00GMT as investors are looking for more details behind the central bank's decision to keep interest rates unchanged and clues on the timing of the next interest rate increase. Therefore, sharp gain or losses is not likely to be seen in Asian n European sessions.
At present, bids are noted at 110.20-10 and 110.00-109.90 with stops below 109.80.
On the upside, offers are reported at 110.60-70 and more at 110.80-90 with stops above 111.00.
Data to be released on Wednesday:
China services PMI, Japan leading economic index, coincident index, Germany industrial production, U.S. mortgage application and Canada Ivey PMI.
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