Intra-Day Market Moving New and Views
11 Sep 2014
USD/JPY - ..... The greenback continued its recent winning streak on Wednesday on speculation that the Federal Reserve will raise interest rates sooner in 2015 than earlier anticipated.
Active cross-selling in Japanese yen n rise in Treasury yields fueled demand for greenback and price rose to a fresh 6-year high of 106.89 in NY afternoon before easing to 106.64 in Tokyo morning as the Nikkei pares initial gain (however, currently still up by 75 points).
As market expects today's U.S. weekly initial jobless claims to show claims in the first week of Sept will be 300K from 302K in previous week, while U.S. retail sales and consumer-sentiment reports will also come in solid this Friday, buying dlr on dips is recommended.
Bids are noted at 106.60-50,106.35/30 and then 106.20 with stops emerging below 106.00.
On the upside, offers are placed at 106.90-00 and around 107.20 with stops emerging further out above 107.50.
Fuji News Network reported, citing unidentified sources, 'Japan PM Abe, BoJ gov Kuroda to hold meeting on Thursday to exchange views on the state of the economy.'
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.