Intra-Day Market Moving News and Views -USD/JPY
|Intra-Day Market Moving News and Views
16 Apr 2018 03:10GMT
USD/JPY - 107.30.. Despite U.S./allied missile strikes on Syria on Sat., dlr opened relatively flat at Mon open in New Zealand and then recovered to 107.61 in Australian morning as initial steady performance in the Dow n S&P 500 futures (Dow futures currently up around 0.5%) boosted risk sentiment.
Having said that, the pair quickly pared intra-day gain n retreated ahead of Tokyo open as market is not fully convinced current geopolitical tension in Syria has completely dissipated yen remains firm broadly vs usd, euro, gbp n aud etc, suggesting choppy trading below Fri's 6-week peak at 107.78 (New York) would continue with downside bias.
Offers are tipped at 107.50/60 with stops above 107.80.
Some bids are noted at 107.30-25 with stops touted below 107.20 n more below 107.00.
Pay attention to release of U.S. eco. data starting with Mar retail sales n NY Fed mfg index at 12:30GMT, then bus. inventories and NAHB housing market index at 14:00GMT.
We have 15 Fed officials who are scheduled to deliver their speeches this week n today we have 3, starting with Dallas Fed's Kaplan (non-voter) at 16:00GMT, then Minneapolis Fed's Kashkari (non-voter) at the same time too n finally, Atlanta Fed's Bostic (voter) at 17:15GMT.
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