Intra-Day Market Moving News and Views
26 Apr 2016 01:12GMT
USD/JPY - ....... Although price retreated after an initial rise to a fresh 3-week peak at 111.91 ahead of Asian open yesterday, renewed selling in yen contained intra-day weakness at 110.84 at New York open and price later recovered to 111.33 before edging lower to 110.96 in Tokyo morning on Tuesday.
Today's focus for the greenback will be on the release of U.S. durable goods orders and U.S. consumer confidence at 12:30GMT and 14:00GMT respectively. Market expects the U.S. durable goods orders in March to turn back into positive territory at +1.8% compare to -3.0% in preceding month, whilst consumer confidence to drop slightly to 96.0 in April from 96.2 in previous reading.
In addition, the Federal Reserve's Open Market Committee will start its regular monthly meeting today and announce its latest monetary policy decision n statement in New York afternoon on Wed.
At present, bids are reported at 111.00-110.90 and more at 110.80-70 with mixture of bids and stops at 110.60-40 region.
On the upside, offers are noted at 111.40-50 and then 111.60-70 with stops above 111.90.
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