Intra-Day Market Moving News and Views
09 Mar 2016 03:08GMT
USD/JPY - ...... Dollar met renewed selling at 112.76 just ahead of Tokyo open and then fell 1 tick below yesterday's low at 112.42 (New York) as renewed weakness in the Nikkei at the open (currently down 267 points at 16515) following o/n decline in the Dow triggered more yen-buying on risk aversion.
Although the pair has staged a minor recovery on lack of follow-though selling, as Asian bourses are in the red, suggesting selling the greenback on recovery is still favoured. Offers are tipped at 112.75/85 and more above with stops reported above 113.30.
Initial bids are noted at 112.45-40 with some stop touted below 112.10.
As no major U.S. economic data are due out later today, traders will take cue from intra-day performance of European and U.S. stocks.
Data to be released on Wednesday:
Australia consumer sentiment, Japan machine tool orders, France nonfarm payroll, U.K. manufacturing output, GDP estimate, industrial output, U.S. mortgage application, wholesale inventories, wholesale sale, Canada rate decision, New Zealand rate decision.
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