Intra-day Market Moving News and Views
28 Oct 2015 01:11GMT
USD/JPY - ........ The greenback met renewed selling interest at 120.74 at European open n dropped to session low at 120.16 at New York open and continued to remain under pressure for remainder of the New York session as the Federal Reserve concludes its 2-day meeting today and announces its rate decision.
Despite a brief rebound to 120.55 at Tokyo open, dlr fell again to 120.24 in Tokyo morning on broad-based buying of jpy.
Mkt shifts to Fed's rate decision at 18:00GMT, however, it is widely expected there won't be any rate hike this month due to underlying concerns over a slowdown in China and the broader impact on global growth.
Offers are now seen at 120.50/60 and more above at 120.70/80 with stops building up above there whilst initial bids are noted at 119.90/00, suggesting downside bias would be seen, hence selling on intra-day pullback is favored.
Data to be release on Wednesday:
Japan retail sales, Germany Gfk consumer sentiment, France consumer confidence, Italy consumer confidence, business confidence, U.S. goods trade balance, and Fed's interest rate decision.
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