Intra-day Market Moving News and Views
24 Nov 2015 01:22GMT
USD/JPY - ....... Despite yesterday's rally to 123.26 in Asian session, the greenback pared its gains and retreated to 123.08 in Europe, then lower to session low at 122.78 in New York afternoon before recovering.
Dlr met renewed selling at 122.96 at Tokyo open as Japanese markets resumed trading after yesterday's market holiday and the pair dropped to 122.79 in Tokyo morning.
There is a slew of data coming out of the U.S. today but pay particular attention to the release of GDP and GDP deflator at 13:30GMT. Street forecasts are 2.0% and 1.2% vs previous readings of 1.5% and 1.2% respectively.
Offers are now seen at 123.00/10 and more above at 123.20/30 with stops building up above there whilst initial bids are noted at 122.30/40, suggesting selling on pullback is the favored strategy.
Data to be released on Tuesday:
Germany GDP, Ifo business climate, Ifo current conditions, Ifo expectation, France business climate, Swiss non-farm payroll, U.K. CBI distributive trades, Italy wage inflation, trade balance, U.S. PCE prices, GDP, Redbook, goods trade balance, consumer confidence, Canada Bank of Canada review.
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