Intra-day Market Moving News and Views
04 Nov 2015 01:10GMT
USD/JPY - ........ The greenback found renewed buying at 120.60 in early European morning and rose to session high 121.23 New Yoyk morning on broad-based dlr strength.
However, profit-taking offers there pressured the pair lower n price retreated to 120.94 in New York afternoon. Later, price found renewed support and gained ahead of Asian open before rallying to 121.26 in Tokyo morning due to the 350+ points rally in Nikkei-225 index.
Market focus now shifts on Fed Chair Janet Yellen's speech at 15:00GMT, who will testify before the House Financial Services Committee on Federal Reserve actions and plans for bank regulation and supervision. Although the focus of the talk is not monetary policy, traders shouldd look out for any hints dropped by the Chief about a possible rate hike in December.
Bids are now seen at 121.00/10 and more below at 120.80/90 with stops building up below there whilst initial offers are noted at 121.70/80, suggesting buying on dips is the way to go.
Data to be released on Wednesday:
New Zealand HLFS jobs reports, labour cost index, Australia AIG service index, trade balance, exports, imports, retails sales, UK BRC shop price index, China Caixin service PMI, Japan consumer confidence, Markit service PMI for Italy, France, Germany, euro zone and UK, euro zone producer price, U.S. ADP national employment, international trade, Markit service PMI, ISM non-manufacturing PMI, and Canada trade reports
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
AUD/USD remains firm above 0.6600 ahead of RBA
AUD/USD maintains its bullish bias well and sound on Monday, extending the multi-session recovery past the 0.6600 barrier ahead of the key interest rate decision by the RBA.
EUR/USD keeps the constructive tone near 1.0800
EUR/USD started the week in a positive note amidst the Dollar’s inconclusive price action, altogether motivating the pair to attempt a move to the proximity of the 1.0800 region, where the 200-day SMA also converges.
Gold holds on to modest gains around $2,320
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
Bitcoin price holds above $63K as MicroStrategy tops BTC ownership list
Bitcoin (BTC) price recorded a rather bold two days this past weekend in a surge that saw millions in positions liquidated. However, the week is off to a calm start with altcoins sucking liquidity from the BTC market.
Stagflation warning: Service economy contracts as prices rise
In another stagflation warning sign, the U.S. service sector contracted in April even as service prices rose. The Institute for Supply Management's non-manufacturing PMI dropped to 49.4 in April, dipping from 51.4 in March.