Intra-Day News and Views (USD/JPY) & data to be released today

Intra-day Market Moving News and Views
02 Jul 2015  02:11GMT

USD/JPY - ..... Dlr rallied to 123.24 in NY on Wednesday as release of a slew of upbeat U.S. eco. data led to broad-based demand for the greenback.
Despite a brief retreat to 122.89 on profit-taking and in part due to cross-buying in yen, dlr rebounded in NY afternoon and rose to 123.43 in Tokyo morning on Thursday as gain in the Nikkei boosted risk appetite (N225 was last seen up 1.18% at 20570).

Today's focus for the greenback is on release of the key U.S. jobs reports and then the factory orders in NY morning, until then, buying dlr on dips in anticipation of further headway to 124.00 level is recommended.
At the moment, bids are reported at 123.30/25 and then 123.15/10 with stops emerging below 123.00, whilst offers are noted at 123.60-70 and more around 123.85/90 with stops building up just above 124.00.

The non-farm payrolls figure for June (scheduled one day earlier than normal due to national holidays Stateside on Friday for the weekend's 4th July celebrations) will be released at 12:30GMT, along with a barrage of other labour-market data such as the unemployment rate, average hourly earnings, and weekly jobless claims.

Market expects the data to show an increase of 230K payrolls in the US economy last month, down from 280K in May which was the highest since Dec 2014.
Meanwhile, the estimates for U.S. unemployment rate, averaged hourly earnings and weekly jobless claims are 5.4%, 0.2% and 270K vs previous readings of 5.5%, 0.3% and 271K respectively.

Thursday will see the release of U.K. BRC shop price index, Australia's trade balance, U.K. Nationwide house price and Markit construction PMI, eurozone producer prices, ECB monetary policy meeting, non-farm payrolls, unemployment rate, initial jobless claims, ISM, factory orders and durable goods.