Intra-Day Market Moving News and Views
22 Oct 2014 01:45GMT
USD/JPY - ...... The pair pares yesterday's gain and retreats in Tokyo morning due to intra-day broad-based pullback in the greenback following yesterday's rally together with present retreat in the Nikkei (the N225 trimmed initial 325-point gain, now at 15025, up by 221 points).
Despite extending o/n rise in NY session to 107.11 in Australia, selling interest emerged after dlr showed muted reaction on Japan's trade data, price retreated to 106.86 in Asian morning.
Looks like range trading is in store and as long as the Nikkei can hold on to intra-day gain after yesterday's broad-based rise in global stocks, buying on dips is favoured.
Bids are noted at 106.80-70 and more below with some stops below 106.50. Initial offers are tipped at 107.05/15 with stops above 107.20, more stops are touted above 107.40.
Data to be released on Wednesday:
the release of Japan imports, exports and trade balance,
Australia inflation,
BoE minutes,
UK BoE MPC vote,
Canada retail sales,
BoC rate decision,
U.S. weekly earnings and CPI.
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