Intra-day news and views and data to be released today – USD/JPY

AceTrader Team AceTrader

Intra-day market moving news and views

Update Time: 04 Mar 2021 05:30GMT

USD/JPY - 107.02.. Dlr maintains a firm undertone in relatively subdued Tokyo trading after extending recent upmove to a fresh 6-week high of 107.15 in New York morning, despite intra-day brief retreat to 105.85 on profit taking, gain to U.S. yields lifted price and the pair edged back to 107.10 in Australia.

Expect sideways swings to continue until European open n intra-day weakness in Asian stocks following o/n decline in the Dow should lead to safe-haven usd buying n gain towards next daily chart obj. at 107.53 is envisaged.
Bids have been raised to 106.85/75 with stop reported below 106.65 while offers are tipped at 107.10/15 with some stops above there.

The U.S. will release a slew of U.S. data, please refer to our EI page for details. Pay attention to comments by Fed Chair J. Powell who is scheduled to speak at a forum on the U.S. economy by Wall Street Journal Jobs Summit at 17:05GMT as traders will focus on his remarks on recent rise in U.S. yields as his dovish comments will send the buck lower n vice versa.

Author

AceTrader Team

AceTrader

Led by world-renowned technical analyst Wilson Leung, we have a team of 7 analysts monitoring the market and updating our recommendations and commentaries 24 hours a day.

EUR/USD clings to daily gains, still below 1.1900

EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.

GBP/USD picks up pace, hits 1.3640

GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.

Gold stays offered below $5,100

Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.

LayerZero Price Forecast: ZRO steadies as markets digest Zero blockchain announcement

LayerZero (ZRO) trades above $2.00 at press time on Thursday, holding steady after a 17% rebound the previous day, which aligned with the public announcement of the Zero blockchain and Cathie Wood joining the advisory board.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility.