Intra-day Market Moving News and Views
27 Aug 2015 02:24GMT
USD/JPY - ...... The greenback found renewed buying at 118.92 in NY morning yesterday after the release of upbeat U.S. durable goods data together with the rally in U.S. stocks n rose to 120.37 in Australia today. Lack of follow-through buying triggered some profit-taking and price retreated to 119.82 at Tokyo open.
However, the rise in N225 index prompted another round of buying and price gained again.
Bids are now seen at 119.90/00 and more below at 119.70/80 with stops building up below there, suggesting buying on dips is still favored.
Traders are now awaiting the release of U.S. GDP figures at 12:30GMT. The data will paint a clearer picture of the country's economy n the probable timescale for the first Fed rate hike.
Data to be released on Thursday:
Australia building capex, capital expenditure, U.K. Nationwide house price, Germany import price, France business climate, Switzerland industrial orders, and U.S. jobless claims, GDP, PCE and pending home sales. Jackson Hole Economic Policy Symposium "Inflation Dynamics and Monetary Policy" (to Aug. 29)
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