Intra-day Market Moving News and Views
04 Aug 2015 02:00GMT
USD/JPY - ..... Although dlr ended little change in on Monday, price went through a mini roller-coaster U.S. session. Price ratcheted higher in Asia and European morning as rebound in the Nikkei boosted risk appetite, price climbed to 124.27 ahead of NY open before coming off to 123.85 after release of weaker-than-expected U.S. construction spending and ISM mfg PMI, however, renewed USD's broad-based strength in NY afternoon lifted price to 124.04 and the pair edged higher to 124.09 in Asia.
Today's market focus is on the release of U.S. factory orders at 14:00GMT. Street forecasts is Jun's reading to an increase of 1.8% in June from -1.0% in preceding month. If the actual figure comes in better than forecast, then another bout of dlr buying may well emerge.
At the moment, bids from various accounts are noted in 123.90-123.70 region with stops below 123.50 whilst some offers are tipped at 124.30-40 and more above with stop touted above 124.60.
Tuesday will see the release of Australia's retail sales, trade balance, RBA rate decision and policy statement, U.K. Markit construction PMI, eurozone producer prices, U.S. Redbook, Canada's RBC manufacturnig PMI, U.S. ISM, durable goods and factory orders.
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