Intra-Day Market Moving News and Views

Update Time: 23 Oct 2020 05:30GMT

USD/JPY - 104.75... Although the Japanese yen traded with a firm bias and gained to 104.74 in Asia yesterday, price fell to 104.48 in European morning on cross-selling in jpy. However, renewed buying interest emerged and the pair rose to 104.92 near New York close on usd's broad-based strength, then 104.93 in Australia today before retreating to 104.70 at Asian open.

Despite dollar's fall below previous October's 104.95 low (now resistance) to a near 1-month bottom at 104.35 on Wednesday, subsequent strong bounce to 104.93 today suggests recent decline has made a temporary trough and 104.95 needs to hold to maintain bearish view, below 104.35 would bring re-test of 104.01, where break would extend downtrend from 111.71 (March) to 103.85/90.
Offers are tipped at 104.85/90 with stops above there while bids are noted at 104.45-40 with move below and stops below 104.10-00.

On the data front, U.S. will release Markit manufacturing PMI and Markit services PMI at 13:45 GMT and traders should keep an eye out for development of U.S. stimulus talks as if it remains standstill, we may see another round of safe-haven usd buying.

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 Join Telegram

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD steadies near 1.0550, looks to post modest weekly gains

EUR/USD steadies near 1.0550, looks to post modest weekly gains

EUR/USD has lost its bullish momentum after having climbed above 1.0570 with the initial reaction to the US data in the American session and retreated toward the mid-1.0500s. On a weekly basis, the pair remains on track to close in positive territory. 

EUR/USD News

GBP/USD struggles to hold above 1.2300

GBP/USD struggles to hold above 1.2300

GBP/USD has edged lower following a jump above 1.2300 in the early American session on Friday. The market mood remains upbeat ahead of the weekend with Wall Street's main indexes posting strong daily gains on upbeat US data. 

GBP/USD News

Gold stays below $1,830 as US yields edge higher

Gold stays below $1,830 as US yields edge higher

Gold continues to fluctuate below $1,830 on Friday and looks to close the second straight week in negative territory. Fueled by the risk-positive market environment, the benchmark 10-year US Treasury bond yield is up more than 1% on the day, limiting XAU/USD's upside.

Gold News

Why Cardano could surprise over the weekend

Why Cardano could surprise over the weekend

ADA  set to close out the week with a gain on the workday trading week and over the weekend? Central banks signaled that the rate hike cycle is ending, meaning less stress and tight conditions for trading, opening up room for some upside potential with Cardano set to pop above $0.55 and test a significant cap.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!

BECOME PREMIUM

Majors

Cryptocurrencies

Signatures