Intra-Day Market Moving News and Views
30 Mar 2016 01:14GMT
USD/JPY - ....... Although the greenback stabilized near New York close after early intra-day selloff from a high of 113.80 (Europe) to as low as 112.61 on dovish remarks from Fed's chair Yellen, price weakened again in Tokyo morning on Wednesday and fell to 112.40.
Intra-day weakness in Asia suggests consolidation with downside bias would be seen but sharp decline is not likely ahead of the release of ADP employment data at 12:15GMT.
In addition, investors should pay close attention to the speech from Chicago Federal Reserve President Charles Evans who recently said he expects two rate hikes this year, given his forecast for 2 percent to 2.5 percent economic growth and for unemployment to fall further to 4.75 percent by the end of the year.
At present, offers are reported at 112.70-80 and mores at 112.90-00 with mixtures of offers and stops in the region of 113.00-113.20.
On the downside, bids from various accounts are noted at 112.30-20 and then 112.10-00 with stops below there.
Data to be released on Wednesday:
New Zealand building permits, Japan industrial production, Swiss UBS consumption indicator, KOF indicator, France consumer spending, Eurozone business climate, economic sentiment, services sentiment, industrial sentiment, consumer confidence, consumer inflation expectation, selling price expectation, Germany CPI, Harmonised index of consumer prices, U.S. MBA mortgage application and ADP employment change.
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