Intra-day Market Moving News and Views
12 Nov 2015 01:17GMT
USD/JPY - ........ The greenback rose from session low at 122.74 in Asia to intra-day high at 123.21 in European morning, however, the dlr pared its gains and retreated to 122.85 at New York midday, then marginally lower to 122.83 in late New York.
Price continued to remain under pressure n dropped to 122.74 ahead of Tokyo open on dlr's broad-based weakness. Later, the pair found renewed support there and rebounded to 122.88 in Tokyo morning on broad-based selling of jpy.
U.S. will release its jobless claims at 13:30GMT. Street forecast is for a decrease to 270K from previous reading of 276K. An upbeat data would further bolster the case of a December rate hike, following last Fri's robust jobs report.
Later, attention will shift to Fed Chair Yellen's speech at 14:30GMT at the Fed's policy conference. Traders should be on the lookout for the language used by her, regarding the timing of the first rate hike.
Offers are now seen at 122.90/00 and more above at 123.10/20 with stops building up above there whilst initial bids are noted at 122.40/50, suggesting selling for near term weakness is favored but position traders should look to buy on further pullback.
Data to be released on Thursday:
New Zealand manufacturing PMI, Japan corp goods price, machinery orders, U.K. housing survey, Australia employment, unemployment rate, Germany CPI final, HICP final, France CPI, current account, inflation ex-tobacco, EU industrial production, Canada new housing price index and U.S. Federal budget.
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