Intra-Day Market Moving News and Views USD/JPY
16 Apr 2014 02:47GMT
USD/JPY - 102.23... BoJ governor Kuroda says 'watching stock market moves carefully; stock prices move on various short-term factors but as a trend, they reflect expectation about corporatate revenues; BoJ's QE having postive impact on stock prices, don't think it is fueling speculative market moves.'
Dlr penetrated 102.00 res level in Tokyo morning as comments fm BoJ Governor Haruhiko Kuroda (see our prev. MMN updates) boosted risk appetite. Later, price climbed again after China posted a 'higher-than-expected' Q1 GDP at 7.4% (forecast was a slowdown to 7.3%).
Intra-day improved risk appetite due to the rise in Asian bourses suggests buying dlr is the favoured strategy until European morning. If Nikkei is able to maintain its rally n closed up by more than 200 points on Wed, stronger gain to 102.50/60 shud follow later today. Bids are noted at 101.90-80 n then 101.65/60 with stops emerging below 101.50, whilst offers are placed at 102.40-50 n further out at 102.85/90 with stops located just abv 103.00.
Market focus today will be on Fed Chair Janet Yellen when she delivers another speech at 16:25GMT (y'day's one did not impact the market). However, investors shud also pay attention to an earlier speech fm BoJ Governor Haruhiko Kuroda in Tokyo at 06:15GMT n the U.S. housing n industrial data in NY morning. Last but not least, we have another market-moving Fed Beige book which will be released at 18:00GMT.
16 Apr 2014 02:47GMT
USD/JPY - 102.23... BoJ governor Kuroda says 'watching stock market moves carefully; stock prices move on various short-term factors but as a trend, they reflect expectation about corporatate revenues; BoJ's QE having postive impact on stock prices, don't think it is fueling speculative market moves.'
Dlr penetrated 102.00 res level in Tokyo morning as comments fm BoJ Governor Haruhiko Kuroda (see our prev. MMN updates) boosted risk appetite. Later, price climbed again after China posted a 'higher-than-expected' Q1 GDP at 7.4% (forecast was a slowdown to 7.3%).
Intra-day improved risk appetite due to the rise in Asian bourses suggests buying dlr is the favoured strategy until European morning. If Nikkei is able to maintain its rally n closed up by more than 200 points on Wed, stronger gain to 102.50/60 shud follow later today. Bids are noted at 101.90-80 n then 101.65/60 with stops emerging below 101.50, whilst offers are placed at 102.40-50 n further out at 102.85/90 with stops located just abv 103.00.
Market focus today will be on Fed Chair Janet Yellen when she delivers another speech at 16:25GMT (y'day's one did not impact the market). However, investors shud also pay attention to an earlier speech fm BoJ Governor Haruhiko Kuroda in Tokyo at 06:15GMT n the U.S. housing n industrial data in NY morning. Last but not least, we have another market-moving Fed Beige book which will be released at 18:00GMT.
Recommended Content
Editors’ Picks
EUR/USD clings to marginal gains above 1.0750
EUR/USD trades in positive territory above 1.0750 in the second half of the day on Monday. The US Dollar struggles to find demand as investors reassess the Fed's rate outlook following Friday's disappointing labor market data.
GBP/USD edges higher toward 1.2600 on improving risk mood
Following Friday's volatile action, GBP/USD pushes higher toward 1.2600 on Monday. Soft April jobs report from the US and the modest improvement seen in risk mood make it difficult for the US Dollar to gather strength.
Gold climbs above $2,320 as US yields push lower
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
Addressing the crypto investor dilemma: To invest or not? Premium
Bitcoin price trades around $63,000 with no directional bias. The consolidation has pushed crypto investors into a state of uncertainty. Investors can expect a bullish directional bias above $70,000 and a bearish one below $50,000.
Three fundamentals for the week: Two central bank decisions and one sensitive US Premium
The Reserve Bank of Australia is set to strike a more hawkish tone, reversing its dovish shift. Policymakers at the Bank of England may open the door to a rate cut in June.