Intra-day Market Moving News and Views
21 May 2015 02:12GMT
USD/JPY - ...... Dlr swung wildly in NY afternoon on Wednesday following the release of FOMC minutes as despite retreating sharply to 120.91 after a brief jump to a fresh 2-month peak at 121.49, price climbed back to 121.38 before dropping back to 121.03 in Tokyo morning on Thursday.
Expect fund flows to dominate the market's move ahead of the release of a slew of U.S. eco. data in NY morning session, these includes weekly U.S. jobless claims, Philadelphia Fed manufacturing survey, Chicago PMI, Leading indicator and existing home sales.
At present, bids are noted at 121.00-120.90 with mixture of bids and stops at 120.75/70 and 120.60-50.
Whilst offers are reported at 121.30-40 and around 121.60 with stops building up above 121.80.
Thursday will see the release of Australia's consumer inflation expectation, Japan's Nomural/JMMA Mfg PMI, New Zealand's budget cash balance, Japan's all industry activity, Germany's and eurozone Markit comp., service and manufacturing flash PMI respectively, U.K. retail sales, CBI trend trade, U.S. initial jobless claims, Chicago Fed actively index, Philly Fed business index and existing home sales. Investors are awaiting a speech on Friday by Fed Chair Janet Yellen to have any indication of the timing of interest rates hike.
Recommended Content
Editors’ Picks
USD/JPY briefly recaptures 160.00, then pulls back sharply
Having briefly recaptured 160.00, USD/JPY pulls back sharply toward 159.00 on potential Japanese FX intervention risks. The Yen tumbles amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
AUD/USD extends gains above 0.6550 on risk flows, hawkish RBA expectations
AUD/USD extends gains above 0.6550 in the Asian session on Monday. The Aussie pair is underpinned by increased bets of an RBA rate hike at its May policy meeting after the previous week's hot Australian CPI data. Risk flows also power the pair's upside.
Gold stays weak below $2,350 amid risk-on mood, firmer USD
Gold price trades on a softer note below $2,350 early Monday. The recent US economic data showed that US inflationary pressures stayed firm, supporting the US Dollar at the expense of Gold price. The upbeat mood also adds to the weight on the bright metal.
Ethereum fees drops to lowest level since October, ETH sustains above $3,200
Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost.
Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.