Intra-day Market Moving News and Views
09 Dec 2015 01:11GMT
USD/JPY - ........ The greenback remained under pressure in Asia yesterday and continued to ratchet lower throughout European session. Price eventually hit session low at 122.72 in New York morning, however, dlr pared its losses and staged a rebound to 123.09 before retreating again.
Later, the pair found renewed buying at 122.84 in Australia and recovered to 123.05 in Tokyo morning as data showed Japan's core machinery orders unexpectedly rose
Pay attention to the release of wholesale inventories and wholesale sales at 15:00GMT. Street forecasts are 0.1% and 0.4% vs. previous readings of 0.5% and 0.5% respectively.
Offers are now seen at 123.10/20 and more above at 123.30/40 with stops building up above there whilst initial bids are noted at 122.50/60, suggesting selling on pullback is the favored strategy.
Data to be released on Wednesday:
Japan machinery order, Australia consumer confidence index, housing finance, China CPI, PPI, Swiss unemployment rate, Germany exports, imports, trade balance, U.S. wholesale inventories, wholesale sales and New Zealand interest rate.
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