Intra-day Market Moving News and Views
04 Dec 2015 02:27GMT
USD/JPY- ...... Although dlr pared o/n steep losses at Tokyo open as Japanese importers bought the greenback, offers at 122.85 checked intra-day bounce, suggesting sideways trading above yesterday's New York low at 122.30 would continue.
Having said that, intra-day broad-based decline in Asian stocks with the Nikkei index falling the most in 1 month in early trading suggests selling the dollar for yen is the way to go, at least ahead of release of the key U.S. jobs report later in the day.
Looking ahead, as market has already priced in a modest hike in the Fed rate at the next FOMC meeting, we reckon not even a robust U.S. payrolls report will be able to move dlr above its November's 12-week high of 123.77.
Initial offers are noted at 122.85 and more at 123.00/10. Some bids are reported at 122.30-20 are with fairly large stops touted below there.
Data to be released on Friday:
Australia retail sales, Japan consumer confidence, Germany industrial orders, Swiss CPI, Canada labour productivity, participation rate, unemployment rate, employment change, trade balance, exports, imports, Ivey PMI, U.S. non-farm payrolls, average earning, international trade, and unemployment rate.
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