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.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD clings to daily gains above 1.0650

EUR/USD clings to daily gains above 1.0650

EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.

EUR/USD News

GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD recovers toward 1.2450 after UK Retail Sales data

GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.

GBP/USD News

Gold holds steady at around $2,380 following earlier spike

Gold holds steady at around $2,380 following earlier spike

Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.

Gold News

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium

Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in

Bitcoin price shows no signs of directional bias while it holds above  $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research. 

Read more

Week ahead – US GDP and BoJ decision on top of next week’s agenda

Week ahead – US GDP and BoJ decision on top of next week’s agenda

US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.

Read more

Majors

Cryptocurrencies

Signatures