Intra-day Market Moving News and Views
11 Nov 2015 01:18GMT
USD/JPY - ....... Despite edging up to session high at 123.44 in New York morning yesterday, failure to penetrate Monday's high at 123.61 triggered profit-taking and price retreated to 123.05 in New York afternoon before recovering. However, renewed pressure at 123.29 sent the pair lower and dlr fell further in Tokyo morning to 122.83, due partly to the initial retreat in Nikkei-225 index.
There is no eco. data due from U.S. today as markets will be closed for Veterans day holiday, hence trading is likely to be thin with bids now lowered to 122.60/70 and some more below at 122.40/50 with stops building up below there whilst initial offers noted at 123.40/50.
Data to be released on Wednesday:
China urban investment, industrial output, retail sales, U.K. average earning, claimant count unemployment change, unemployment rate, mortgage market index and mortgage market refinance index. It is Veterans Day in U.S. and Remembrance Day in Canada on Wednesday.
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