Intra-Day Market Moving News and Views
31 Aug 2016 01:25GMT
USD/JPY - THe greenback found renewed buying at 102.16 in European morning and rallied to an intra-day high at 102.13 in New York afternoon as the release of upbeat U.S. consumer confidence data increased speculation of a rate hike from the Fed later this year.
Profit-taking offers there pressured the pair lower to 102.86 ahead of Asian open before climbing to 103.23 at Tokyo open.
Pay attention to the release of U.S. ADP employment at 12:15GMT.
Street forecast is for a slight drop to 175K from previous reading of 179K.
Bids are now seen at 102.70/80 and more below at 102.50/60 with stops building up below there whilst initial offers are noted at 103.70/80, suggesting buying on dips for a resumption of recent uptrend is favored.
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