Intra-Day Market Moving News and Views
Update Time: 16 Oct 2020 05:30GMT
USD/JPY - 105.30... The greenback found renewed buying at 105.09 in Australia yesterday and rose to 105.34 in Europe before retreating to 105.19 at New York open. However, the pair later rose to 105.49 on active safe-haven usd buying due to continued standstill in U.S. coronavirus aid talks before retreating to 105.28 in Asian morning today on cross-buying in the Japanese yen.
Although dollar's fall from last Wednesday's 3-week high at 106.10 to 105.04 suggests upmove from September's 6-month trough at 104.01 has made a temporary top, subsequent rebound and yesterday's gain to 105.49 signals as long as 105.18/20 holds, consolidation with mild upside bias would be seen, however, reckon 105.82 would cap upside and yield retreat later.
Some bids are noted at 105.25-20 with stops below there while offers are tipped at 105.55/60 with stops above 105.80.
On the calendar front, U.S. will release a slew of data and focus will be on retail sales and retail sales ex-autos due out at 12:30 GMT, with street forecast at 0.7% and 0.5% respectively versus prior readings of 0.6% and 0.7%.
Trader should continue to pay attention to U.S. stimulus talks headlines.
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