Intra-Day Market Moving News and Views
23 Mar 2015 02:38GMT
USD/JPY - ...... Dlr tumbled on Fri due to renewed broad-based selling in the greenback, price fell from European high of 121.20 to 119.90 in NY session, then marginally lower to 119.83 in Australia earlier today before recovering.
Despite dlr's marginal breach of 119.90 to 118.83, lack of follow-though selling and intra-day recovery in Asian morning suggests consolidation above said intra-day low would be seen.
However, sentiment on dlr remains mildly bearish after Friday's decline, so selling the pair on intra-day recovery is recommended.
At the moment, offers are noted at 120.25/30 n then 120.55/60 with mixture of offers and stops emerging above 120.80.
On the downside, bids are placed at 119.80-70 and around 119.60 with mixture of bids and stops located at 119.40 and further out below last Wednesday's 2-week trough at 119.29.
This week will see the release of U.K. CBI trends, U.S. existing home sales and eurozone consumer confidence on Monday.
Australia's CB leading index, China HSBC manufacturing PMI, Germany's manufacturing PMI, eurozones manufacturing PMI, U.K. CPI, PPI, RPI and DCLG house price, U.S. CPI, Redbook and new home sales on Tuesday.
New Zealand's exports, imports and trade balance, Germany's Ifo business climate, U.S. durable goods, SNB quarterly bulletin on Wednesday.
Germany's GfK consumer sentiment, U.K. retail sales, CBI distributive trades and U.S. jobless claims on Thursday.
Japan's household spending, CPI, unemployment rate and retail sales and U.K. GfK consumer confidence on Friday.
Recommended Content
Editors’ Picks
EUR/USD holds firm above 1.0700 ahead of German inflation data
EUR/USD trades on a firm footing above 1.0700 early Monday. The pair stays underpinned by a softer US Dollar, courtesy of the USD/JPY sell-off and a risk-friendly market environment. Germany's inflation data is next in focus.
USD/JPY recovers after testing 155.00 on likely Japanese intervention
USD/JPY is recovering ground after crashing to 155.00 on what seemed like a Japanese FX intervention. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
Gold price bulls move to the sidelines as focus shifts to the crucial FOMC policy meeting
Gold price struggles to capitalize on its modest gains registered over the past two trading days and edges lower on the first day of a new week, albeit the downside remains cushioned.
Ripple CTO shares take on ETHgate controversy, XRP holders await SEC opposition brief filing
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: FOMC and jobs data in sight
May kicks off with the Federal Open Market Committee meeting and will be one to watch, scheduled to make the airwaves on Wednesday. It’s pretty much a sealed deal for a no-change decision at this week’s meeting.