Intra-day Market Moving News and Views
22 Oct 2015 01:12GMT
USD/JPY - ....... Although the greenback traded with a firm bias yesterday and edged up to 120.07 ahead of European open, price retreated to 119.81 as risk appetite diminished due to selloff in Chinese stocks. However, dlr pared its losses and rose to session high at 120.09 in New York morning before falling to 119.82 in New York afternoon. The pair met renewed selling at 119.95 at Tokyo open and continues to remain under pressure in Tokyo morning.
Pay attention to the release of U.S. jobless claims at 12:30GMT. Street forecast is for a slight increase to 265K from previous reading of 262K. An upbeat figure would provide further evidence to the Fed that the labor market is improving n they can raise rates sometime this year.
Bids are now seen at 119.70/80 n more below at 119.50/60 with stops building up below there whilst initial offers are noted at 120.20/30, suggesting buying on intra-day dips is favored.
Data to be released on Thursday:
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.
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Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.