Intra-Day Market Moving News and Views
10 Dec 2018 03:30GMT
USD/JPY - 112.28.. Despite initial narrowly trading in New Zealand, the pair fell on safe-haven yen buying due to renewed weakness in U.S. stock futures n price dropped to 112.24 on intra-day broad-based fall in Asian stocks (N225 currently down 2.21% at 211968 and HSI down 1.67% n Shanghai composite down 0.71%).
Intra-day weakness n then re-test of Thursday's 1-month low at 112.24 suggests recent decline would head to 111.92 after consolidation, however, loss of momentum would keep dlr above 111.63. Therefore, whilst selling on recovery is favoured, profit should be taken on subsequent fall.
Offers have been lowered to 112.40/50 with stops above 112.75.
Some bids are noted at 112.25-20 with stops below there.
After Fri's market moving U.S. jobs data, the only eco. data due out in the U.S. is JOLTS job openings, therefore, traders will take cue from U.S. stock movements.
Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0650 after US data
EUR/USD retreats from session highs but manages to hold above 1.0650 in the early American session. Upbeat macroeconomic data releases from the US helps the US Dollar find a foothold and limits the pair's upside.
GBP/USD retreats toward 1.2450 on modest USD rebound
GBP/USD edges lower in the second half of the day and trades at around 1.2450. Better-than-expected Jobless Claims and Philadelphia Fed Manufacturing Index data from the US provides a support to the USD and forces the pair to stay on the back foot.
Gold is closely monitoring geopolitics
Gold trades in positive territory above $2,380 on Thursday. Although the benchmark 10-year US Treasury bond yield holds steady following upbeat US data, XAU/USD continues to stretch higher on growing fears over a deepening conflict in the Middle East.
Ripple faces significant correction as former SEC litigator says lawsuit could make it to Supreme Court
Ripple (XRP) price hovers below the key $0.50 level on Thursday after failing at another attempt to break and close above the resistance for the fourth day in a row.
Have we seen the extent of the Fed rate repricing?
Markets have been mostly consolidating recent moves into Thursday. We’ve seen some profit taking on Dollar longs and renewed demand for US equities into the dip. Whether or not this holds up is a completely different story.