Intra-day Market Moving News and Views
12 Oct 2015 00:52GMT
USD/JPY - ...... The greenback opened slightly lower to 120.16 in NZ before rebounding to 120.26 in Australia, however, renewed selling emerged over there and pressured the pair lower to 120.09 in thing trading conditions at Asian open as Japanese markets remain closed for Sports-day holiday.
Despite increasing pressure from the government, BoJ's Governor Haruhiko Kuroda reiterated that he sees no urgent need for further easing right now. Reuters reported, at a press conference in Lima, he said 'many advanced nations have a price target of 2 percent and it's true actual inflation is below that level. But most of this is due to declines in oil and commodity prices; I don't think there's a need to rush into action at this point.'
Trading is expected to be thin with some bids seen at 119.90/00 and more below at 119.70/80 with stops building up below there whilst initial offers are noted at 120.50/60, suggesting choppy trading would be seen till European open.
Data to be released this week:
France current account on Monday. Market holiday in Japan and Canada.
Australia NAB business conditions, NAB business confidence, China trade reports, Japan consumer confidence, Germany CPI, HICP and ZEW reports, Switzerland producer/import price, U.K. BRC retail sales, CPI, PPI and RPI, U.S. Redbook and Fed budget on Tuesday.
Japan CGPI, China CPI and PPI, France CPI, Italy CPI, UK average earnings, claimant count unemployment change, ILO unemployment, euro zone industrial production, Switzerland ZEW investor sentiment, U.S. retail sales and business inventories on Wednesday.
New Zealand manufacturing PMI, Australia employment change, full-time employment and unemployment rate, Japan industrial output, capacity utilization, U.S. real weekly earnings, NY Fed manufacturing, CPI and Philly Fed business index on Thursday.
New Zealand CPI, Italy trade balance, euro zone trade balance, inflation reports, Canada manufacturing sales, U.S. capacity utilization, industrial output, net long-term flows on Friday.
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