Intra-Day Market Moving News and Views
17 Apr 2018 03:10GMT
USD/JPY - 107.03.. Dlr remained on the back foot in Asian trading after initial break of yesterday's 107.04 (New York) low to 106.97 as renewed broad-based weakness in the usd prompted short-term specs to sell the pair for stop hunting.
The lack of a rebound from said intra-day 106.97 trough suggests market is keen to test dlr's downside after price hit a 6-week peak of 107.78 on Friday and the path of least resistance in the meantime is down, so selling dlr on recovery is the way to go.
Offers are tipped at 107.10/20 n more above with some stops above 107.40.
Some bids are noted at 106.90/80 with some stops below there, however, more sell stops are touted below 106.60.
The U.S. will release a slew of eco. data starting housing starts, building permits, Redbook retail sales, industrial production, manuf. output n capacity utilization.
As mentioned on Monday, 15 Fed officials are scheduled to speak this week, after 3 speakers yesterday, today we have 4 Fed Presidents (pls refer to our EI page for details).
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