Intra-day Market Moving News and Views
03 Aug 2015 02:00GMT
USD/JPY - ..... Although dlr fell sharply from 124.38 to 123.52 in Friday's NY morning after data showed that U.S. wage growth for the Q2 increased by the lowest level in more than 30 years, buying interest quickly emerged there and price later climbed back to 124.03 near NY close following the 'hawkish' comments from St. Louis Federal Reserve President James Bullard, then marginally higher to 124.12 at Asian open on Monday before retreating.
Today, as market's speculation of further weakening in yen would continue after comments from BoJ Governor Kuroda who said that he didn't intend to draw any "line in the sand" for the dollar/yen, buying the pair on dips is recommended.
Having said, investors should pay attention to the release of a slew of U.S. eco. data later in NY morning, this includes the PCE index, personal income, personal consumption, construction spending and ISM manufacturing PMI.
In addition, Federal Reserve Board Governor Jerome Powell will speak on "The Structure and Liquidity of Treasury Bond Markets" before the Brookings Institution "Are There Structural Issues in the U.S. Bond Markets?" Conference at 14:50GMT.
At the moment, bids are placed in 123.80-123.60 region and around 123.50 with buying interest from various accounts at 123.30-20.
On the upside, offers are tipped at 124.20-30 and more at 124.35/40 with mixture of offers and stops at 124.50-60.
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