Intra-Day Market Moving News and Views
21 Nov 2014 04:15GMT
USD/JPY - ...... Breaking news from Reuters, "Japan PM Abe dissolves lower house of parliament for snap election - speaker".
PM Shinzo Abe dissolved parliament's lower house for an election on Friday, seeking a fresh mandate for his struggling Abenomics revival strategy just two years after he returned to power promising that "Japan is Back".
The speaker of the lower house read the dissolution proclamation to a plenary session of the chamber.
No election for parliament's lower house needed to be held until late 2016. But Abe is hoping to cement his grip on power before his support ratings, now below 40 percent in some surveys but still sturdy by Japanese standards, slip further.
The date of the election, expected to be on Dec. 14, will officially be set at a cabinet meeting in the afternoon.
GBP/USD - ........This morning the Cable stayed on the sideline in subdued Asian trading as market lets yen taking centre stage as usual.
Yesterday's continued short-covering rise from 1.5632 to 1.5737 in NY after tripping stops above 1.5720 following upbeat U.K. retail sales data in Europe suggests Wednesday's fresh 14-month trough at 1.5590 would continue to hold in next few sessions.
Although offers at 1.5737 checked Thursday's gain and cable retreated in tandem with eur/usd to 1.5675 shortly after Europe close, renewed buying lifted the pair and the sideways move in NY afternoon continued in Asia today.
Looks like cable will follow intra-day swings in eur/usd and upside bias remains for another rise toward 1.57387 later in the day. For now, bids are noted at 1.5680-75 and more below with stops below 1.5630.
Some offers are reported at 1.5720/30 with fairly large stops touted above 1.5740.
Recommended Content
Editors’ Picks
EUR/USD trades above 1.0700 after EU inflation data
EUR/USD regained its traction and climbed above 1.0700 in the European session. Eurostat reported that the annual Core HICP inflation edged lower to 2.7% in April from 2.9% in March. This reading came in above the market expectation of 2.6% and supported the Euro.
GBP/USD recovers to 1.2550 despite US Dollar strength
GBP/USD is recovering losses to trade near 1.2550 in the European session on Tuesday. The pair rebounds despite a cautious risk tone and broad US Dollar strength. The focus now stays on the mid-tier US data amid a data-light UK docket.
Gold price remains depressed near $2,320 amid stronger USD, ahead of US macro data
Gold price (XAU/USD) remains depressed heading into the European session on Tuesday and is currently placed near the lower end of its daily range, just above the $2,320 level.
XRP hovers above $0.51 as Ripple motion to strike new expert materials receives SEC response
Ripple (XRP) trades broadly sideways on Tuesday after closing above $0.51 on Monday as the payment firm’s legal battle against the US Securities and Exchange Commission (SEC) persists.
Mixed earnings for Europe as battle against inflation in UK takes step forward
Corporate updates are dominating this morning after HSBC’s earnings report contained the surprise news that its CEO is stepping down after 5 years in the job. However, HSBC’s share price is rising this morning and is higher by nearly 2%.