Intra-Day news and views and data to be released today – USD/JPY
|Intra-Day market moving news and views
Update Time: 22 Oct2021 05:30GMT.
USD/JPY - 110.04.. Despite extending a rebound from Thursday's 113.66 low in New York after meeting renewed buying ahead of Tokyo open at 113.82 to 114.20, dlr retreats in tandem with U.S. yields (benchmark 10-year hit a 5-month high of 1.7064%, circa 1.6869%) on profit-taking, suggesting range trading is in store ahead of the European open.
As dlr's said bounce from 113.66 indicates pullback from Wednesday's fresh 3-year peak at 114.69 has possibly ended, consolidation with upside bias remains, above 114.20/30 would encourage for re-test of 114.69 later today or Monday esp if U.S. PMI data is upbeat.
Bids are noted at 114.00-113.90 with stops below 113.65 while offers are tipped at 114.20/30 with some stops touted above there.
On the data front, U.S. will release Markit mfg n services PMIs n then Federal budget. We also have a number of Fed officials scheduled to speak in New York morning, please refer to our EI page for details and pay attention to a speech by Fed chief J. Powell where he will participate a BIS conference at 15:00GMT.
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