Intra-day market moving news and views
Update Time: 14 Apr 2021 05:30GMT
USD/JPY - 108.81.. The pair remains on the back foot in hectic Tokyo trading, the intra-day decline accelerated when price early penetrated last week's 109.01 low ahead of Tokyo open due to continued usd's weakness on falling US yields (benchmark 10-year hit 2-week low of 1.611%).
Despite intra-day resumption of recent decline from March's 1-year peak at 110.96, as this move is viewed as a correction of Medium Term rise from 2021 bottom at 102.60, reckon daily sup area at 108.35/41 would contain weakness n yield rebound later today or tom, a daily close above 109.01 would bode well for price to head back to 109.75/77.
Offers are tipped at 109.00/05 with stops tourted above 109.25 while bids are noted at 108.75/65 with stops below 108.35.
BOJ Gov. Kuroda will speak at a financial forum at 06:15GMT. After yesterday's much-anticipated release of US CPI, we have a slew of eco. data later today, please refer to our EI page for details. The market may pay attention to Fed's beige book due out at 18:00GMT.
We also have a no. of Fed officials scheduled to speak in New York session n traders will pay attention to comments from Fed's J. Powell when he speaks at 16:00GMT at an economic forum at 16:00GMT and market is interested to hear his comments on the recent surge in US inflation readings.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
AUD/USD keeps the red below 0.6400 as Middle East war fears mount
AUD/USD is keeping heavy losses below 0.6400, as risk-aversion persists following the news that Israel retaliated with missile strikes on a site in Iran. Fears of the Israel-Iran strife translating into a wider regional conflict are weighing on the higher-yielding Aussie Dollar.
USD/JPY recovers above 154.00 despite Israel-Iran escalation
USD/JPY is recovering ground above 154.00 after falling hard on confirmation of reports of an Israeli missile strike on Iran, implying that an open conflict is underway and could only spread into a wider Middle East war. Safe-haven Japanese Yen jumped, helped by BoJ Governor Ueda's comments.
Gold price pares gains below $2,400, geopolitical risks lend support
Gold price is paring gains to trade back below $2,400 early Friday, Iran's downplaying of Israel's attack has paused the Gold price rally but the upside remains supported amid mounting fears over a potential wider Middle East regional conflict.
WTI surges to $85.00 amid Israel-Iran tensions
Western Texas Intermediate, the US crude oil benchmark, is trading around $85.00 on Friday. The black gold gains traction on the day amid the escalating tension between Israel and Iran after a US official confirmed that Israeli missiles had hit a site in Iran.
Dogwifhat price pumps 5% ahead of possible Coinbase effect
Dogwifhat price recorded an uptick on Thursday, going as far as to outperform its peers in the meme coins space. Second only to Bonk Inu, WIF token’s show of strength was not just influenced by Bitcoin price reclaiming above $63,000.