Intra-Day Market Moving News and Views
31 Mar 2015 01:45GMT
USD/JPY - ....... The greenback climbs to a 1-week high of 120.36 in Tokyo morning after meeting renewed buying at 119.99 just ahead of Tokyo open.
The firmer open in the Nikkei following yesterday's broad-based rally in global stocks has boosted risk sentiment, triggering a broad-based selling of yen vs other currencies.
As yesterday's rally above Friday's 119.50 to 120.23 near NY close signals recent correction from Mar's near 8-year peak at 122.03 has made a low last week at 118.33, buying dlr on dips is the way to go.
At present, bids are noted at 120.00-119.80 with stops below there, on the upside, offers are touted at 120.30/40 and more at 120.60/65.
News earlier on Japan's ECOMIN Akira Amari, he said that there is no change to gov't fiscal discipline target of achieving primary budget surplus in fiscal 2020 and focus will probably shift to debt/GDP ratio after primary budget surplus achieved.
Tuesday will see the release of Australian HIA New Home Sales, U.K. GfK consumer sentiment, Japan's housing starts, German retail sales and unemployment, eurozone inflation and unemployment rate, U.S. Redbook, Chicago PMI and consumer confidence.
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