Intra-day Market Moving News and Views
25 Nov 2015 01:55GMT
USD/JPY - ........ The pair remains under pressure in Asia on renewed broad-based dlr's weakness in Asian morning. Despite staging a recovery from 122.36 to 122.64 in New York morning after upbeat Q3 U.S. GDP, price ratcheted lower on broad-based buying of yen following news of the downing of a Russian Jet by Turkish army near the Syrian border, dlr weakened to session low of 122.31 ahead of New York close before staging at rebound to 122.58 in Australia.
Dlr's intra-day weakness to 122.32 suggests near term downside bias remains, however, reports of bids at 122.25-00 area should contain downside and price should stage a rebound later.
On the upside, offers are noted at 122.55/65 and more above with stops above 123.00.
Pay attention to a slew of U.S. data later today ahead of a holiday-shortened week, this includes weekly jobless claims, core PCE price index, Markit services PMI, new home sales and U. of Michigan consumer confidence.
Data to be released on Wednesday:
Australia's construction work done, Swiss consumption indicator, France consumer confidence, Italy industrial order, industrial sales, retail sales, U.S. mortgage rate, mortgage market index, purchase index, mortgage refinance index, initial jobless claims, build permits, consumption, core PCE prices, durable goods orders, PCE prices, personal consumption, personal income, home price, home sales
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