Intra-day Market Moving News and Views
16 Nov 2015 01:29GMT
USD/JPY - ........ Despite the greenback's rise to session high at 122.99 in New York afternoon on Friday, price retreated sharply to around 122.60 near New York close.
Dlr opened significantly lower in New Zealand today and dropped to intra-day low at 122.21 on broad-based buying of yen on risk aversion, following Friday's Paris attacks.
However, the pair pared its losses and staged a strong short-covering rebound to 122.61 on speculation that the BoJ will announce new easing measures after data showed Japan's economy slid back into recession in July-September.
Offers have now been raised to 122.60/70 and more above at 122.80/90 with stops building up above there whilst initial bids are seen at 121.90/00, suggesting initial upside would be seen but traders should look to sell on pullback for subsequent weakness.
Data to be released:
New Zealand retail sales, U.K. Rightmove house price index, Japan GDP, euro zone inflation, U.S. NY empire state manufacturing index, and Canada manufacturing sales on Monday.
Australia RBA meeting minutes, New Zealand inflation expectation, Italy trade balance, U.K. CPI, PPI, RPI, Germany ZEW reports, euro zone ZEW economic sentiment, U.S. CPI, Redbook, capacity utilization, industrial output and NAHB housing market index, net L-T Flows, net capital flows on Tuesday.
Australia wage price index, China house prices, Swiss investor sentiment, Canada housing starts, U.S. building permit and housing start, FOMC minutes Wednesday.
New Zealand producer prices, PPI output, Japan export import trade balance, BoJ rate decision and press conference, industry activity index, Swiss trade balance, export, import, EU current account, U.K. retail sales, CBI trends, U.S. jobless claims, Philly Fed Business index, leading index and Canada wholesale trade on Thursday.
Japan BoJ economic survey, Germany producer prices, U.K. public sector net borrowing, Canada CPI and EU consumer confidence flash on Friday
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