Intra-Day Market Moving News and Views -USD/JPY
|Intra-Day Market Moving News and Views
06 Dec 2018 03:30GMT
USD/JPY - 112.82.. Despite yesterday's short-covering rise from 112.65 (AUS) to 113.24 in holiday-thinned N. American afternoon session, dlr tumbled ahead of Tokyo open due to a brief buy sharp 1.9% spike down in the S&P 500 futures, such a move prompted broad-based safe-haven buying in yen vs usd, eur, gbp, aud and nzd etc, the pair later tumbled to 112.74 after the U.S. futures index stabilsied (currently down 1.09%).
As dlr's decline from 113.24 suggests correction from Tuesday's near 2-week trough at 112.57 has ended, intra-day selloff in Asian stocks (N225 currently down 1.35%, HSI down 2.13% n Shanghai down 0.84%), expect present safe-haven yen buying activities to continue esp. in Europe if European stocks follow Asian equities lower, therefore, trading dlr from short side for re-test of 112.57, then re-test of Nov's bottom at 112.31 is favoured.
Offers have been lowered to 113.00 and more above with stops above 1113.25.
Some bids are noted at 112.70/60 with stops below 112.50, more stops are reported below 112.30.
U.S. markets will re-open after yesterday's impromptu national holiday and will release a slew of eco. data starting with Markit services PMI, durable goods order and factory orders. Atlantic Fed's Bostic (voter) will speak at 17:15GMT n much later at 23:30GMT, New York Fed President Williams (voter) will speak in New York and Fed Chair J. Powell will speak at 23:45GMT.
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