Intra-Day Market Moving News and Views
Update Time: 20 May 2019 03:00GMT

USD/JPY - 110.26.. Despite dlr's initial retreat from Asian 110.03 high to 109.50 at New York open on Friday, the greenback caught a bid after release of stronger-than-expected U.S. data (U.S. consumer confidence jumped to a 15-year high - May index came in at 102.4 vs forecast of 97.5) which triggered broad-based usd buying, price rallied to 110.18 before easing.

The pair opened at 110.12 in NZ n then climbed to intra-day high of 110.32 in Asian morning on renewed yen-selling and ignored further news on U.S.-China trade tensions (see early updates for details).
Although Friday's close above 110.00 confirms recent decline has made a temp. low at last Monday's 3-month trough at 109.02, overbought condition is likely to prevent further sharp gain n may yield strong retreat later today in European trading as the safe-haven yen may well get another round of buying on more negative U.S.-China trade talk news.
Offers are tipped at 110.40/50 with stops above 110.70.
Bids are noted at 110.00-109.90 with stops below 109.80 n more below 109.50.

Monday's U.S. eco. calendar is very light with Chicago Fed National Activity index being the only data due out at 12:30GMT. Pay attention to speech by Philly Fed President Harker at 13:30GMT. Also New York Fed's Williams n Fed Board Governor Clarida will participate in 2-hour "Fed Listens" Round table in New York at 17:00GMT.

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.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD extends its gains toward 1.1300 after the dovish Fed decision

EUR/USD has extended its gains after the Fed opened the door to cutting interest rates, stating that uncertainties have increased. Markets are awaiting EU leaders to divvy up top jobs.


GBP/USD falls after the dovish BOE statement

GBP/USD retreats below 1.2700. after the BOE downgraded Q2 forecasts, sees increasing signs of wage growth leveling off, and notes downside risks have increased. However, they remain on course to tighten policy.


USD/JPY rebounds from multi-month lows, continues to trade below 108

Fed's dovish shift continues to weigh on the greenback. 10-year US Treasury bond yield plummets to lowest level since November 2016. Wall Street looks to open sharply higher on Thursday.


FOMC: Prelude to a rate cut?

The Federal Reserve added little new to its policy prescript in Wednesday’s FOMC statement and economic projections and with the anticipation for a July rate cut long priced into market levels the reaction was decidedly uninvolved.

Read more

Gold eases from multi-year tops, still well bid near $1380 level

Gold built on the post-FOMC upsurge and rallied to near six-year tops during the Asian session on Thursday, albeit retreated a bit thereafter.

Gold News