Intra-Day Market Moving News and Views
19 Apr 2016 01:35GMT
USD/JPY - ..... in total stark contrast to yesterday's weak posture in early Asian trading, the pair climbed above yesterday's New York 108.99 high to 109.22 at Asian open as 2 rounds of verbal warning by Japanese officials (see earlier updates for details) prompted short-term yen selling, tripping stops above 109.00.
Although dlr has eased, intra-day rally in Asian stocks (Nikkie is currently up by over 3.5% at 16862) should boost risk sentiment, leading to more yen-selling. Therefore, buying dlr on dips is still favoured.
Bids are noted at 119.00-108.90 and more below with stops below 108.70. Some offers are tipped at 109.20/30 and more at 109.55 with stops touted above 109.75.
Data to be released on Tuesday:
Japan tertiary industry index, Eurozone current account, ZEW economic sentiment, Germany ZEW current condition, ZEW economic sentiment, U.S. building permits, housing starts and Redbook index.
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