Intra-day Market Moving News and Views
05 Jan 2016 02:30GMT
USD/JPY - ..... Dlr regains composure in Asian morning as intra-day move back into positive territory in Chinese stocks has led to broad-based recovery in Asian stocks, Dollar rebounded from 119.10 to 119.63 as modest gain in the Nikkei has boosted risk sentiment, leading to yen selling vs its peer currencies.
Looks like the pair would gain respite after yesterday's selloff from 120.47 to an 11-week low of 118.70 (Europe). Having said that, dlr's daily close below the 'psychological' 120.00 level bodes ill for the pair and price should head lower towards daily obj. 118.06 later this once current consolidation is over.
Offers are noted at 120.65/75 n more above with stops reported above 120.00, initial bids are touted at 119.20-10 with stops below 119.00, more stops are reported below 118.60.
BoJ Governor Kuroda is scheduled to deliver a speech at 07:10GMT.
Data to be released on Tuesday:
Germany unemployment rate, unemployment change, U.K. construction PMI, Italy CPI, Eurozone inflation, Canada producer prices, U.S. Redbook and New York Index
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