Intra-Day Market Moving News and Views -USD/JPY

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
16 Apr 2018 03:10GMT

USD/JPY - 107.30.. Despite U.S./allied missile strikes on Syria on Sat., dlr opened relatively flat at Mon open in New Zealand and then recovered to 107.61 in Australian morning as initial steady performance in the Dow n S&P 500 futures (Dow futures currently up around 0.5%) boosted risk sentiment.

Having said that, the pair quickly pared intra-day gain n retreated ahead of Tokyo open as market is not fully convinced current geopolitical tension in Syria has completely dissipated yen remains firm broadly vs usd, euro, gbp n aud etc, suggesting choppy trading below Fri's 6-week peak at 107.78 (New York) would continue with downside bias.
Offers are tipped at 107.50/60 with stops above 107.80.
Some bids are noted at 107.30-25 with stops touted below 107.20 n more below 107.00.

Pay attention to release of U.S. eco. data starting with Mar retail sales n NY Fed mfg index at 12:30GMT, then bus. inventories and NAHB housing market index at 14:00GMT.

We have 15 Fed officials who are scheduled to deliver their speeches this week n today we have 3, starting with Dallas Fed's Kaplan (non-voter) at 16:00GMT, then Minneapolis Fed's Kashkari (non-voter) at the same time too n finally, Atlanta Fed's Bostic (voter) at 17:15GMT.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD treads water above 1.1850 amid thin trading

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day.

GBP/USD flat lines as traders await key UK and US macro data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.365 in Monday's European trading. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important releases from the UK and the US.

Gold sticks to intraday losses; lacks follow-through

Gold remains depressed through the early European session on Monday, though it has managed to rebound from the daily trough and currently trades around the $5,000 psychological mark. Moreover, a combination of supporting factors warrants some caution for aggressive bearish traders, and before positioning for deeper losses.

Bitcoin, Ethereum and Ripple consolidate within key ranges as selling pressure eases

Bitcoin and Ethereum prices have been trading sideways within key ranges following the massive correction. Meanwhile, XRP recovers slightly, breaking above the key resistance zone. The top three cryptocurrencies hint at a potential short-term recovery, with momentum indicators showing fading bearish signs.

Global inflation watch: Signs of cooling services inflation

Realized inflation landed close to expectations in January, as negative base effects weighed on the annual rates. Remaining sticky inflation is largely explained by services, while tariff-driven goods inflation remains limited even in the US.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.