Intra-day Market Moving News and Views
19 Oct 2015 00:39GMT
USD/JPY - ....... Despite Friday's rise to 119.66 in New York morning, helped by the release of upbeat U. of Michigan Conusumer sentiment, the greenback retreated to 119.27 in New York afternoon and continued to remain under pressure in Australia today and dropped to 119.22 at Asian open.
In other news, Reuters reported, Japan FinMin Taro Aso voiced skepticism on Friday on whether a fresh round of monetary easing would be launched ahead of a Bank of Japan rate review, citing a surplus of cash in the Japanese economy and weak domestic demand. He added 'The Bank of Japan may not ease policy further any time soon.'
Since there is no major eco. data due today, order book remains relatively thin with bids now lowered to 118.90/00 and more below at 118.70/80 with stops building up below there.
Whilst initial offers are noted at 119.90/00, suggesting buying on dips is still favored.
Data to be released :
China GDP, industrial output, retail sales, UK Rightmove house prices, U.S. NAHB housing market index on Monday. Canada Federal Election.
Australia RBA meeting minutes, Germany producer prices, Switzerland trade balance, euro zone current accounts, Canad wholesale trade, U.S. building permits, house starts, and Redbook on Tuesday.
Japan trade reports, All Industry Activity Index, Australia CB leading indicator, Westpac leading index, UK PSNB, PSNCR, Canada BoC rate decision on Wednesday.
France Business Climate, Italy trade balance, UK retail sales, euro zone ECB rate decision, ECB's press conference, consumer confidence. Canada retail sales, U.S. jobless claims, monthly home price, existing home sales, Leading Index on Thursday.
China house prices, Caixin manufacturing PMI, Makit manufacturing PMI and service PMI for France, Germany and euro zone, Italy industrial orders, retail sales, wage inflation, Canada CPI on Friday.
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