Intra-Day Market Moving News and Views
17 May 2018 03:10GMT
USD/JPY - 110.18.. Despite initial firmness at Tokyo open due to rising U.S. yields where benchmark 10-year climbed marginally above yesterday's fresh 7-year high of 3.104% to 3.108%), usd's broad-based retreat knocked price from 110.39 to 110.08, suggesting further choppy trading below Tuesday's 3-month peak at 110.45 would continue.
As long as yesterday's low at 110.04 (prev. May's high, now sup) holds, dlr's recent uptrend should resume after present choppy consolidation is over n buying on dips for intra-day n day trades are still favoured. Bids are noted at 110.10-00 with stops below there. Offers are tipped at 110.40/45 with stops reported above 110.50.
U.S. will release a slew of eco. data later today starting with weekly jobless claims, Philly Fed survey and then leading indicator. We have several Fed officials making speeches today, pls refer to our EI page for details.
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