Intra-Day Market Moving News and Views
27 Mar 2015 02:23GMT
USD/JPY - ...... Although dlr retreated after rallying from yesterday's fresh 5-week low at 118.33 to 119.43 and then briefly dipped to 119.06 in Tokyo morning due to buying in yen after release of encouraging Japan's jobs data, renewed strength in the greenback vs other major ccys lifted price n dlr bounced back to 119.40 intra-day gain in the Nikkei-225 index (currently up 0.5% to 19569) has boosted risk appetite.
Intra-day rebound from 119.06 suggests consolidation with upside bias remains in Asia n Europe, therefore, trading the dlr on dips is recommended. In NY session, investors should close attention to the release of revision to U.S. Q4 GDP, PCE and University of Michigan consumer sentiment.
Last but not least, market should watch out for the speech by Fed chair Janey Yellen who will speak on "Monetary Policy," before the Federal Reserve Bank of San Francisco Conference at 19:45GMT as dovsih comments from her may spark off another round of dlr selling which may spill into Monday's NZ morning session.
At the moment, bids are noted at 119.20-10 and then 119.00 with mixture of bids and stops located just below 118.80.
On the upside, offers are placed at 119.50-60 and around 119.80 with stops emerging just above 120.00.
Earlier Bloomberg headlines reported Japanese PM Sinzo Abe who was speaking in parliament said "definitely getting results on exiting deflation in Japan" and "Will make the economy grow so escape from deflation permanent".
Friday will see the release of Japan's household spending, CPI, unemployment rate and retail sales and U.K. GfK consumer confidence.
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