Intra-day Market Moving News and Views
16 Dec 2015 01:28GMT
USD/JPY - ...... Despite initial retreat to session low at 120.58 at European open, the greenback rallied in European morning and rose to intra-day high at 121.79 in New York afternoon before easing as the release of in-line U.S.
CPI data supported the Fed's view to hike its rates. Renewed buying at 121.59 in Australia pushed the pair up to 121.90 at Tokyo open.
Traders are now gearing up for the release of Fed's rate decision at 19:00GMT and then Yellen's press conference at 19:30. It is widely expected that the central bank will raise rates by 25 bps but one should pay attention to the press conference as Yellen would outline how the bank would go about hiking rates in the future.
Bids are now seen at 121.40/50 and more below at 121.10/20 with stops building up below there whilst initial offers are noted at 122.10/20, suggesting near term upside bias remains.
Data to be released on Wednesday:
New Zealand current account, inflation expectations, Australia leading indicator, France manufacturing flash PMI, service flash PMI, Germany manufacturing flash PMI, service flash PMI, Eurozone manufacturing flash PMI, service flash PMI, trade balance, inflation, U.K. average earnings, average week earning, claimant count unemployment change, unemployment rate, Swiss investor sentiment, U.S. mortgage applications, build permits, housing starts, industrial output, capacity utilization, manufacturing PMI, Fed fund target rate and overall net capital flows
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