Intra-day Market Moving News and Views
10 Nov 2015 01:05GMT
USD/JPY - ...... Although the greenback resumed its recent ascent and rose to session high at 123.61 in European morning, price pared its gains and retreated to intra-day low at 122.97 in New York afternoon on profit-taking and due to the selloff in U.S. equities. Dlr staged a rebound to 123.19 at Tokyo open but renewed selling interest there capped intra-day gain and price fell once again.
U.S. will release a slew of data today, ranging from export n import price index to wholesale inventories and sales. On the whole, the release of better-than-expected data would further strengthen the case of a Fed rate hike in December this year.
Bids are now seen at 122.80/90 and more below at 122.60/70 with stops building up below there whilst initial offers are noted at 123.60/70, suggesting choppy trading would be seen for the time being.
Data to be released on Tuesday:
Japan current account, economy watcher poll, Australia housing finance, invest housing finance, business condition, business confidence, China CPI, PPI, Swiss unemployment rate, France industrial output, Italy industrial output, U.S. business optimism, export prices, import prices, Redbook, wholesale inventories and wholesale sale.
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