Intra-Day News and Views & data to be released today - USD/JPY

AceTrader Team AceTrader

Intra-Day Market Moving News and Views
Update Time: 21May 2019 03:00GMT

USD/JPY - 110.17.. Despite dlr's retreat from Monday's 12-day high of 110.32 (Asia) to 109.81 at New York open due to intra-day fall in U.S. yields and usd's weakness, the pair later recovered to 110.06 ahead of New York close due to broad-based rebound in the greenback.

Dlr climbed back to 110.21 in early Asian trading on Tuesday on renewed yen-selling triggered by present rise in U.S. yields, suggesting re-test of 110.32 is likely to be seen but loss of upward momentum should cap price at 110.50/60 today. '
Bids are noted at 110.00-109.90 with stops below 109.80.
Offers are tipped at 110.25/30 with stops above 110.35 and more above 110.50.

Market has shown muted reaction to early comments by Fed's J. Powell. U.S. will release Redbook sales, existing home sales in New York morning. Also we have Fed's Evans and Fed's Rosengren speaking later today.

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 makes a U-turn, focus on 1.1900

EUR/USD’s recovery picks up further pace, prompting the pair to retarget the key 1.1900 barrier amid further loss of momentum in the US Dollar on Wednesday. Moving forward, investors are expected to remain focused on upcoming labour market figures and the always relevant US CPI prints on Thursday and Friday, respectively.

GBP/USD sticks to the bullish tone near 1.3660

GBP/USD maintains its solid performance on Wednesday, hovering around the 1.3660 zone as the Greenback surrenders its post-NFP bounce. Cable, in the meantime, should now shift its attention to key UK data due on Thursday, including preliminary GDP gauges.

Gold holds on to higher ground ahead of the next catalyst

Gold keeps the bid tone well in place on Wednesday, retargeting the $5,100 zone per troy ounce on the back of modest losses in the US Dollar and despite firm US Treasury yields across the curve. Moving forward, the yellow metal’s next test will come from the release of US CPI figures on Friday.