Intra-day Market Moving News and Views
18 Nov 2015 01:18GMT
USD/JPY - ....... Despite a brief retreat from Asian high at 123.43 to 123.18 in early European morning, the greenback found renewed buying and rose marginally higher to intra-day high at 123.49 in New York before retreating again to 123.26 in New York afternoon.
However, dlr pared its losses and rebounded to 123.47 ahead of Tokyo open n continues to trade with a firm bias in Tokyo morning.
Although U.S. will release some housing related data today, market focus is on the release of FOMC minutes later today at 18:00GMT. Traders will look for hints in the statement about a possible December rate hike and the factors that would influence the Fed in making such a decision.
Bids are now seen at 123.20/30 and more below at 123.00/10 with stops building up below there whilst initial offers are noted at 123.80/90, suggesting upside bias would be seen and buying on dips is the favored strategy.
Data to be released on Wednesday:
Australia wage price index, CB leading indicator, Westpac leading index, China house prices, Swiss ZEW investor sentiment, Canada housing starts, U.S. building permit, housing start, and FOMC minutes.
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