Intra-Day Market Moving News and Views

Update Time: 27 Mar 2020 04:30GMT

USD/JPY - 108.34... The greenback remained under pressure in Asia and Europe yesterday on usd's broad-based weakness and intra-day decline accelerated in New York after data showed U.S. jobless claims surged past the 1982 record and hit a historic high of more than 3 million and hit an intra-day low at 109.22 in New York afternoon. The pair then met renewed selling at 109.71 in Australia and tumbled to 108.30 in Asian morning on usd's continued weakness.

Dollar's intra-day fall below yesterday's low at 109.22 signals decline from Tuesday's 1-month peak at 111.71 remains in progress and further weakness to 108.20 would be seen after consolidation. Offers are now lowered to 108.70/80 and more above at 108.90/00 with stops building up above there whilst initial bids are noted at 107.90/00.

Pay attention to the release of US personal income and personal spending at 12:30GMT. Street forecasts are 0.4% and 0.2% vs previous readings of 0.6% and 0.1% respectively.

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