Intra-day Market Moving News and Views
28 Aug 2015 02:12GMT
USD/JPY - ....... The greenback continued to ratchet higher throughout Asian n European sessions yesterday and hit a session high at 121.40 at NY midday as stock mkts globally rallied. Despite a brief pullback to 120.51 in NY afternoon, dlr found renewed buying and rose to 121.23 near NY closing, then marginally higher to 121.31 in Tokyo morning due to the rise in Nikkei-225 index together with the release of upbeat Japan retail sales.
Japan retail sales were reported at 1.6% vs forecast of 1.1%.
Bids are now seen at 120.90/00 and more below at 120.70/80 with stops building up below there whilst initial offers are noted at 121.50/60, suggesting buying on dips is still favored.
U.S. is set to release a slew of eco. data at 12:30GMT but the focus is on the release of U. of Michigan consumer confidence at 14:00GMT. Street forecast is for 93.0 vs prev. reading of 92.9.
Data to be released on Friday:
UK Gfk consumer confidence, Japan all household spending, CPI, retail sales, Switzerland GDP, France producer prices, Italy business confidence, consumer confidence, U.K. GDP (second release), Italy wage inflation, euro zone business climate, consumer inflation expectation, economic sentiment, industrial sentiment, Germany CPI, HICP, Canada producer prices, and U.S. consumption, PCE, personal income, personal consumption, and University of Michigan consumer confidence.
Recommended Content
Editors’ Picks
EUR/USD holds positive ground above 1.0750 ahead of Eurozone PMI, PPI data
EUR/USD trades in positive territory for the fourth consecutive day near 1.0765 during the early Monday. The softer US Dollar provides some support to the major pair. Traders await the HCOB Purchasing Managers’ Index (PMI) data from Germany and the Eurozone, along with the Eurozone PPI.
GBP/USD rises to near 1.2550 due to dovish sentiment surrounding Fed
GBP/USD continues its winning streak for the fourth consecutive day, trading around 1.2550 during the Asian trading hours on Monday. The appreciation of the pair could be attributed to the recalibrated expectations for the Fed's interest rate cuts in 2024 following the release of lower-than-expected US jobs data.
Gold price rebounds on downbeat NFP data, softer US Dollar
Gold price snaps the two-day losing streak during the Asian session on Monday. The weaker-than-expected US employment reports have boosted the odds of a September rate cut from the US Federal Reserve. This, in turn, has dragged the US Dollar lower and lifted the USD-denominated gold.
Bitcoin Cash could become a Cardano partnerchain as 66% of 11.3K voters say “Aye”
Bitcoin Cash is the current mania in the Cardano ecosystem following a proposal by the network’s executive inviting the public to vote on X, about a possible integration.
Week ahead: BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.