Intra-Day Market Moving News and Views
The greenback edged back to 102.44 in Tokyo morning after Fri's pretty sharp selloff fm 102.72 to 102.14 (on buying of yen due to risk aversion) as tension in Ukraine eased a little. German Foreign Minister said earlier today that 'the aim remains to bring about a ceasefire in Ukraine' after holding talks with the foreign ministers of Ukraine, Russia, n France in Berlin on Sunday.
As market sentiment remains fragile n events in Russia-Ukraine at the weekend continue to capture market focus, selling dlr on recovery is favoured but position player shud look to buy on dips as Aug's bottom at 101.51 shud continue to hold n bring rebound due to dlr's broad 'consolidative' outlook. Offers are noted at 102.50-70 with stops emerging abv 102.80, whilst bids are placed at 102.10-00 with mixture of bids n stops at 101.80-70.
On the data front, U.S. will release the NAHB housing market index at 14:00GMT with forecast to remain unchanged at 53 in Aug. Looking ahead, Federal Reserve will release their latest meeting minutes on Wed n his week's major focus wud be the annual meeting of top central bank officials n economists in Jackson Hole, Wyoming fm August 21 to 23.
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