Intra-Day News and Views & data to be released today - USD/JPY
|Intra-Day Market Moving News and Views
Update Time: 18 Sept 2019 03:30GMT
USD/JPY - 108.25.. Dlr catches a small bid in Asian morning on Wed due to renewed yen selling after going through sideways trading in European morning and New York session yesterday.
Despite climbing to a 6-week high of 108.36 in Asian initially on Tuesday following positive Sino-U.S. trade talk news, profit taking quickly pushed price lower , the pair swung sideways in European session and later fell to 108.07 in New York due to broad-based liquidation of recent long usd positions. Outlook remains mildly bullish for recent upmove to make further headway ahead of FOMC announcement.
Bids are noted at 108.10-00 with stops touted below 107.90 whole offers are tipped at 108.35/40 with stops reported above 108.50.
FOMC and subsequent J. Powell's press conference are the biggest events for the month. Market is pricing in for a 25 basis point rate cut but some are even expecting Fed to restart QE programme, if this does occur, then the greenback would be bashed down hard. Until then, U.S. will release MBA mortgage applications, building permits n housing starts.
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