Intra-Day Market Moving News and Views
Update Time: 14 Nov 2019 04:20GMT
USD/JPY - 108.77... The greenback gains some respite after yesterday's selloff on risk-averse buying in jpy. Despite rebounding to 109.14 in Europe yesterday, price dropped to 108.67 in New York morning on falling U.S. yields, then marginally lower to 108.66 in New York afternoon on WSJ report that US-China trade talks have "hit a snag". The pair then recovered to 108.86 in Tokyo morning today before retreating on soft China data.
Dollar's re-test of previous support at 108.66 yesterday suggests suggests decline from November's 5-month peak at 109.48 would resume after consolidation and extend towards 108.32.
However, bids at 108.20/30 and more below at 108.00/10 should contain downside and yield rebound later.
There are a slew of speakers from the Federal Reserve due to speak today. Pay particular attention to Fed Vice Chair Clarida's speech on the Fed's review of its monetary policy strategy at the Cato Institute's 37th Annual Monetary Conference at 14:10GMT. U.S. will also release its jobless claims at 13:30GMT. Street forecast is 215k vs previous reading of 211k.
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