Intra-day Market Moving News and Views
02 Oct 2015 00:37GMT
USD/JPY - ...... Despite y'day's initial rise to session high at 120.28 after the release of Chinese PMIs, the greenback met renewed selling and tumbled to intra-day low at 119.49 in New York morning, weighed down by the release of downbeat U.S. jobless claims and ISM manufacturing PMI.
Later, dlr staged a short-covering rebound to 119.96 in New York afternoon before retreating. However, price found renewed support at 119.78 ahead of Tokyo open and gained to 119.94 in Asian morning.
Mkt focus is now solely on the release of U.S. jobs report at 12:30GMT. Street forecast for NFP is an increase to 203K fm prev. reading of 173K whilst unemployment rate is expected to remain unchanged at 5.1%. An upbeat report wud further boost the case for a rate hike before the end of this year whereas a downbeat data cud see Fed Chair Yellen delay it to next year.
Bids are now seen at 119.30/40 and more below at 119.10/20 with stops building up below there whilst offers are noted at 120.20/30, suggesting choppy trading would be seen till European open.
Data to be released on Friday:
Japan all household spending, unemployment rate, Australia retail sales, Markit construction PMI for UK, euro zone producer prices , U.S. non-farm payroll, unemployment rate, average earnings, durable goods (revised), and factory orders.
02 Oct 2015 00:37GMT
USD/JPY - ...... Despite y'day's initial rise to session high at 120.28 after the release of Chinese PMIs, the greenback met renewed selling and tumbled to intra-day low at 119.49 in New York morning, weighed down by the release of downbeat U.S. jobless claims and ISM manufacturing PMI.
Later, dlr staged a short-covering rebound to 119.96 in New York afternoon before retreating. However, price found renewed support at 119.78 ahead of Tokyo open and gained to 119.94 in Asian morning.
Mkt focus is now solely on the release of U.S. jobs report at 12:30GMT. Street forecast for NFP is an increase to 203K fm prev. reading of 173K whilst unemployment rate is expected to remain unchanged at 5.1%. An upbeat report wud further boost the case for a rate hike before the end of this year whereas a downbeat data cud see Fed Chair Yellen delay it to next year.
Bids are now seen at 119.30/40 and more below at 119.10/20 with stops building up below there whilst offers are noted at 120.20/30, suggesting choppy trading would be seen till European open.
Data to be released on Friday:
Japan all household spending, unemployment rate, Australia retail sales, Markit construction PMI for UK, euro zone producer prices , U.S. non-farm payroll, unemployment rate, average earnings, durable goods (revised), and factory orders.
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